The Ivey purchasing managers index (PMI) sponsored by the Richard Ivey School of Business and the Canadian Management Association surged for a second consecutive month in September, jumping from 65.9 points in August to 70.3 points. Furthermore, the reading came in well above market expectations, which had seen the index falling to 62.0 points and, in fact, represented the highest level since 2006. A reading above 50 indicates that the manufacturing sector is expanding, while a reading below 50 implies a contraction. September's surge was broad-based, as three out of four components composing the index increased over the previous month. The main drivers behind the September improvement were employment and inventories, which rose 3.2 points each, reaching 54.8 and 58.5 points, respectively. On the other hand, the delivery component was the only category to drop compared to the previous month in addition to being the only one below the 50-points threshold at 44.4 points.
Manufacturing activity reaches a four-year high in September
October 6, 2010
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Canada Economic News
October 21, 2016
In September, seasonally-adjusted consumer prices increased 0.2% from the previous month, which contrasted the 0.1% decrease recorded in August and marked the highest print in three months.
October 19, 2016
At its 19 October policy meeting, the Bank of Canada (BoC) decided to maintain its target for the overnight rate at 0.50%, despite a weaker inflation and growth outlook.
October 11, 2016
The Teranet-National Bank National Composite House Price index rose 0.7% in September from the previous month, which followed the 1.5% increase in August.
October 8, 2016
Seasonally-adjusted annualized housing starts registered 220,600 units in September, according to the government-owned Canada Mortgage and Housing Corporation (CMHC).
October 7, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 6.1 points in September, rising from 52.3 in August to 58.4.