The Ivey Purchasing Managers Index (PMI) sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada tumbled an impressive 22.8 points, the largest drop on record, settling at 45.4 points in July. The decline was well below market expectations, which saw the PMI moderating to 62.9 points. On a seasonally adjusted basis, the Ivey PMI fell from 59.9 points in June to 46.8 points in July. Consequently, the PMI plunged below the 50-point threshold for the first time since January 2011, suggesting manufacturing production contracted in July. The deterioration in the index was attributed to decreases in employment, deliveries and prices components. On the other hand, the inventories component of the index improved slightly over June.
Canadian PMI marks the sharpest drop on record
August 5, 2011
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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.