Canada PMI August 2018

Canada

Canada: Ivey PMI steady in August

September 7, 2018

In July, the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, held broadly stable, edging up marginally to 61.9 points (July: 61.8 points). August’s reading, which beat analysts’ expectations of a 61.4-point outturn, was 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 were mixed in August. Most notably, the employment index jumped—contrasting Statistics Canada’s weak jobs report for August, which saw the unemployment rate tick up to 6.0% from 5.8%. Meanwhile, in line with higher inflation in recent months, the prices index also rose.

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 August 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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