The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, inched up a seasonally-adjusted 0.4 points to reach 57.2 points in February. The market had expected a drop to 53.1 points. The modest gain came on the back of the significant 10.5-point jump recorded in January, which drove the index above the 50-point threshold that indicates expansion in the manufacturing sector. FocusEconomics Consensus Forecast panelists see industrial production expanding 1.0% in 2014, which is unchanged from last month's forecast. For 2015, the panel expects industrial production to grow to 2.1%.
PMI ticks up in February
March 6, 2014
Author: Carl Kelly, Economist
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Canada PMI Chart
Note: Ivey Purchasing Managers Index. A reading above 50 indicates an expansion in the manufacturing sector while a value below 50 points to a contraction.
Source: Richard Ivey School of Business and the Purchasing Management Association of Canada.
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