BMO Report: America's Post-Pandemic Economic Prospects
- Courriel
-
Signet
-
Imprimer
Disponible en anglais seulement.
CHICAGO and NEW YORK, June 29, 2020 /CNW/ - As the U.S. works to recover from the COVID-19 pandemic and the corresponding economic dislocation, some industries will naturally rebound quickly as distancing measures lighten, according to a new report from BMO Economics.
In the report, titled "America's Post-Pandemic Economic Prospects," BMO's economists identify sectors which are likely to rebound and grow strongly in the new environment, along with others that may lag and have difficulty returning to original levels.
"While there are serious challenges ahead for the economy, there are also important reasons to remain positive," said Doug Porter, Chief Economist, BMO Financial Group. "While some sectors will face persistent challenges as a result of the shutdowns and distancing measures, at the same time – in classic creative destruction fashion – there will be some sectors that strengthen and step into the gap.
"The main conclusion is that economies are resilient, and people and businesses can be incredibly resourceful in the face of challenges; don't underestimate the ability to recover from this tough period," concluded Porter.
"Our business customers are adapting to the challenging times, in some cases even transforming their operations to help their local community, all while still working tirelessly to keep their operations moving forward," said David Casper, U.S. Chief Executive Officer, BMO Financial Group. "Their optimism and their entrepreneurial spirit are critical in leading our economy to better days."
"The recovery from the 2020 recession can be seen as a slow stair climb up after a fast elevator ride down," according to Michael Gregory, Deputy Chief Economist and Head, U.S. Economics, BMO Capital Markets. "These 'stairs' are fabricated from the various factors delaying full recovery for some businesses and industries, while denying it altogether for others. However, helping us up these stairs are the massive amounts of fiscal and monetary policy support."
The report identifies industries that are expected to meaningfully outperform in a post-pandemic world, including:
- Health care and social assistance
- Information and cultural industries
- Food and beverage stores
- Warehousing and storage
Industries expected to significantly lag behind include:
- Air transportation
- Accommodation and food services
- Arts, entertainment and recreation
- Mining (including oil and gas extraction)
The full report can be found at https://capitalmarkets.bmo.com/en/news-insights/covid-19-insights/research-strategy/americas-post-pandemic-prospects/
BMO subject matter experts have been constantly monitoring the developments around COVID-19, delivering insights to help make sense of what this means for businesses and the economy. Continue to follow us by visiting bmocm.com/covid-19-insights for more up-to-the-minute information.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $987 billion as of April 30, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
For further information: Media Contact: Kelly Hechler, Toronto, kelly.hechler@bmo.com, (416) 867-3996
Disponible en anglais seulement.
CHICAGO and NEW YORK, June 29, 2020 /CNW/ - As the U.S. works to recover from the COVID-19 pandemic and the corresponding economic dislocation, some industries will naturally rebound quickly as distancing measures lighten, according to a new report from BMO Economics.
In the report, titled "America's Post-Pandemic Economic Prospects," BMO's economists identify sectors which are likely to rebound and grow strongly in the new environment, along with others that may lag and have difficulty returning to original levels.
"While there are serious challenges ahead for the economy, there are also important reasons to remain positive," said Doug Porter, Chief Economist, BMO Financial Group. "While some sectors will face persistent challenges as a result of the shutdowns and distancing measures, at the same time – in classic creative destruction fashion – there will be some sectors that strengthen and step into the gap.
"The main conclusion is that economies are resilient, and people and businesses can be incredibly resourceful in the face of challenges; don't underestimate the ability to recover from this tough period," concluded Porter.
"Our business customers are adapting to the challenging times, in some cases even transforming their operations to help their local community, all while still working tirelessly to keep their operations moving forward," said David Casper, U.S. Chief Executive Officer, BMO Financial Group. "Their optimism and their entrepreneurial spirit are critical in leading our economy to better days."
"The recovery from the 2020 recession can be seen as a slow stair climb up after a fast elevator ride down," according to Michael Gregory, Deputy Chief Economist and Head, U.S. Economics, BMO Capital Markets. "These 'stairs' are fabricated from the various factors delaying full recovery for some businesses and industries, while denying it altogether for others. However, helping us up these stairs are the massive amounts of fiscal and monetary policy support."
The report identifies industries that are expected to meaningfully outperform in a post-pandemic world, including:
- Health care and social assistance
- Information and cultural industries
- Food and beverage stores
- Warehousing and storage
Industries expected to significantly lag behind include:
- Air transportation
- Accommodation and food services
- Arts, entertainment and recreation
- Mining (including oil and gas extraction)
The full report can be found at https://capitalmarkets.bmo.com/en/news-insights/covid-19-insights/research-strategy/americas-post-pandemic-prospects/
BMO subject matter experts have been constantly monitoring the developments around COVID-19, delivering insights to help make sense of what this means for businesses and the economy. Continue to follow us by visiting bmocm.com/covid-19-insights for more up-to-the-minute information.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $987 billion as of April 30, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
For further information: Media Contact: Kelly Hechler, Toronto, kelly.hechler@bmo.com, (416) 867-3996
Autre contenu intéressant
Deland Kamanga de BMO désigné champion aux Prix honorifiques 2021 de Catalyst
BMO Investissements Inc. lance une nouvelle série de FNB d'actions américaines toutes capitalisations
Un don de BMO aide l'Université du Yukon à mettre sur pied un nouvel Institut du pergélisol
BMO met sur pied une nouvelle équipe innovatrice pour la transition énergétique
Offrir des perspectives autochtones aux Canadiens : l'Université des Premières Nations du Canada, Reconciliation Education et BMO lancent un nouveau cours d'apprentissage en ligne pour souligner le Mo
L'avenir de l'alimentation et de l'agriculture : BMO organise une conférence de renommée mondiale sur les marchés agricoles pour la 16e année de suite
Rush University System for Health and BMO Financial Group Announce $10 Million Donation to Create the Rush BMO Institute for Health Equity
BMO fait part des progrès accomplis dans la mise en œuvre des principes opérationnels pour la gestion de l'impact de IFC dans une première déclaration de divulgation
BMO annonce un don de 250 000 $ aux organisations qui soutiennent les efforts de secours d'urgence mondiale contre la COVID-19
Première nord-américaine : BMO aide Gibson Energy à transformer entièrement une facilité de crédit en un prêt lié à la durabilité
Forbes names BMO Harris Bank one of the Best Employers for Diversity 2021 for the third year in a row
BMO émet pour 750 millions de dollars canadiens d'obligations Women in Business pour soutenir les entreprises appartenant à des femmes
BMO s'engage à hauteur de 1,2 million de dollars avec SheEO pour aider les sociétés de capital de risque dirigées par des femmes à accéder à du financement
L'Ethisphere institute reconnaît BMO comme l'une des entreprises les plus éthiques au monde pour une quatrième année d'affilée
BMO tiendra sa 30e conférence mondiale annuelle sur le secteur des mines et des métaux
BMO Groupe financier parmi les premières banques canadiennes à signer les Principes pour une banque responsable des Nations Unies
BMO Groupe financier se joint au Partnership for Carbon Accounting Financials
BMO Groupe financier ravit le premier rang parmi les banques d'Amérique du Nord au classement de 2021 des 100 sociétés les plus durables au monde de Corporate Knights
Les employés de BMO se rassemblent pour lutter contre les inégalités économiques et sociales
Rapport sur les perspectives de 2021 de BMO Gestion mondiale d'actifs : des jours meilleurs à venir
BMO Groupe financier reconnu par le CDP pour ses pratiques exemplaires dans le contexte du changement climatique
Marchés des capitaux nommée Meilleure banque canadienne pour les opérations en dollars canadiens/américains pour la 10e année consécutive
BMO Groupe financier annonce ses résultats du quatrième trimestre et de l'exercice de 2020
BMO se classe parmi les entreprises les plus durables selon l'indice de durabilité Dow Jones - Amérique du Nord
BMO Groupe financier franchit une étape clé en faisant correspondre 100 pour cent de sa consommation d'électricité avec des énergies renouvelables
BMO Groupe financier reconnu comme l'une des sociétés les mieux gérées de manière durable au monde dans le nouveau classement du Wall Street Journal
BMO Marchés des capitaux fera un don de 1,6 million de dollars canadiens à la suite de la 16e journée annuelle de négociation du programme Action-Éducation
Avis médias - BMO Marchés des capitaux célèbre les 16 ans de la journée de négociation du programme Action-Éducation
BMO annonce de nouveaux objectifs en matière de diversité et de représentation pour les cinq prochaines années
Forbes ranks BMO Harris Bank as one of America’s Best Employers for Women in 2020
Suivi de la reprise : les Études économiques de BMO lancent l'Indice des activités d'entreprise de BMO
BMO Capital Markets to host 2020 Prescriptions for Success Healthcare Virtual Conference
Une mise à jour destinée à nos clients : Travailler pendant et après la pandémie
BMO Groupe financier s'approvisionnera à 100 pour cent en électricité à partir d'énergies renouvelables
Rapport spécial de BMO sur l'économie post-pandémique : combler les écarts
Media Advisory - BMO Expert Podcast on COVID-19 and the Future of the Global Economy
Les six grandes banques canadiennes prennent des mesures décisives pour soutenir leurs clients affectés par la COVID-19
Les Aliments Maple Leaf et BMO Marchés des capitaux concluent le premier prêt lié à la durabilité au Canada