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  • North American Outlook

    September 03, 2021 | 14:51

    Fourth Wave Rising

    Economist
    profile photo of Sal Guatieri

    Sal Guatieri

    Senior Economist and Director
    Economics

    Sal Guatieri is a Senior Economist and Director at BMO Capital Markets, with over two decades experience as a ma... (Read more)

    profile photo of Sal Guatieri

    Sal Guatieri

    Senior Economist and Director
    Economics

    Sal Guatieri is a Senior Economist and Director at BMO Capital Markets, with over two decades experience as a ma... (Read more)

    More
    Key Summary

    Supply chain challenges are clamping down on economic growth and a fourth wave of the virus is chilling consumer confidence, sparking a downward revision to our outlook


    The U.S. economy has also lost steam due to fading fiscal support, so we marked down our growth call to 5.8% this year


    Canada's economy unexpectedly shrank in Q2, and a weak start to Q3 slashed our 2021 estimate by a full percentage point to 5.0%


    Given further downside risks to the economic outlook central banks will be in no rush to lift policy rates

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