Canada PMI September 2018

Canada

Canada: Ivey PMI tumbles to a two-year low in September

October 4, 2018

The Ivey Purchasing Managers’ Index (PMI), prepared by the Richard Ivey School of Business, fell from 61.9 in August to 50.4 in September. The print was well below analysts’ expectations of 62.3 and represented the lowest print in two years. The seasonally-adjusted index barely remained above the 50-point threshold separating expansion from contraction in purchasing activity by Canadian firms.

Along with the PMI, Ivey produces four other business-related indices, the readings of which were mixed in September. The employment index related to Ivey’s PMI fell sharply from 59.6 in August to 51.6 in September, the lowest level since May 2017. In line with August’s moderation in inflation, Ivey’s price index also fell. That said, the index remained elevated by recent historical standards.

FocusEconomics Consensus Forecast panelists expect fixed investment to increase 4.0% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, our panel expects fixed investment to increase 2.3%, which is up 0.1 percentage points from previous month’s estimate.


Author:, Economist

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Canada PMI September 2018

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


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