Canada: PMI beats expectations, rises to four-month high
February 6, 2013
The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally adjusted 6.1 points to 58.9 points in January, the highest level seen in four months. The improvement exceeded market expectations that had the PMI rising only to 53.6 points.
As a result of the monthly improvement, the PMI is now further above the 50-point threshold, which indicates that the manufacturing sector is expanding. However, at the current level, the PMI index is 5.2 points below the level observed in the same month last year.