03:25:39 EDT Sun 17 Oct 2021
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Bank of Montreal
Symbol BMO
Shares Issued 647,872,286
Close 2021-09-22 C$ 126.55
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Globe says BMO's Johnson sees chip shortage continuing

2021-09-22 06:16 ET - In the News

The Globe and Mail reports in its Wednesday edition that Bank of Montreal economist Erik Johnson detailed Canada's "˜Carpocalypse," as covered in a column by The Globe's Scott Barlow: "North American auto production disappointed in August most ways you can slice it. Year-to-date production is down 20% versus 2019 levels. The 12-month moving sum is similarly heading in the wrong direction (see chart). Monthly production fell18% year-over-year, highlighted by Canada having the worst month in seasonally adjusted terms going back to the late-1980s (other than April and May 2020). While production in Mexico and the U.S. has surpassed 2020 levels (for now), it has slumped 13% in Canada or 40% versus 2019. With many automakers extending production cuts into September, it doesn't look like the global chip shortage will end anytime soon."

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