Watson Wyatt Worldwide has presented two Canadian economists with awards for accuracy in economic forecasting.

Jayson Myers, vice president and chief economist for Canadian Manufacturers and Exporters won for the category “Short-term Prediction”, which is for a one-year time frame. Tom Phelps, vice president and chief economist, Noranda Inc., won for the category “Medium-to Long term Prediction”, which covers the most recent five-year time frame.

The winners were selected by comparing the individually submitted forecasts of survey participants to various actual market indicators and economic results as published by Statistics Canada for the years in review.

The Crystal Awards are presented each year following the results of Watson Wyatt’s Survey of Economic Expectations, which this year involved 42 leading investment consultants and money managers from across Canada.