Canada PMI July 2018

Canada

Canada: Ivey PMI dips in July

August 7, 2018

In July, the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, ticked down 1.3 points to land at 61.8 points. July’s reading, which missed analysts’ expectations of a 64.2-point outturn, was still elevated by recent historical standards. Furthermore, the seasonally-adjusted index remained comfortably above the 50-point threshold that separates expansion from contraction in purchasing activity at Canadian firms.

Along with the PMI, Ivey produces four other business-related indices, and their readings outlined a slower expansion in July. Most notably, all but the inventories index fell. Meanwhile, the employment index dipped—contrasting Statistics Canada’s strong jobs report for July, which saw the unemployment rate tick back down to 5.8%.

FocusEconomics Consensus Forecast panelists expect fixed investment to increase 4.2% in 2018, which is unchanged from last month’s forecast. For 2019, our panel expects fixed investment to increase 2.3%.


Author:, Economist

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Canada PMI July 2018

Note: Ivey Purchasing Managers’ Index. A reading above 50 points indicates an expansion in purchasing activity while a value below 50 points indicates a contraction.
Source: Richard Ivey School of Business and the Purchasing Management Association of Canada.


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