Well, sir, we don't study the American economy in detail, but obviously in doing our own forecast there are assumptions made. The general view of the U.S. economy is that the recovery is going to start in the second half and is going to continue in 2010. Based on IMF projections, they have an output gap that is very similar to the one we have right now in Canada, and there is an expectation that our output gap is not going to be closed until 2014.
On November 3rd, 2009. See this statement in context.