Canada PMI March 2018


Canada: Ivey PMI edges higher in March

April 6, 2018

In March, the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, edged up 0.2 points to 59.8 points. March’s modest gains came in below analysts’ expectations of a 0.6-point uptick but pushed the seasonally-adjusted index further 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 were mixed in March. Most notably, the employment index jumped in the month—broadly in line with Statistic Canada’s unexpectedly bright jobs report for March, which showed strong full-time employment gains and the unemployment rate stable at 5.8%. Meanwhile, inventories crept up while both prices and supplier delivery times fell in the month.

FocusEconomics Consensus Forecast panelists expect fixed investment to increase 3.0% in 2018, which is unchanged from last month’s forecast. For 2019, our panel expects fixed investment to increase 1.7%.


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Canada PMI Chart

Canada PMI March 2018 0

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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