Canada: PMI climbs higher in May
June 4, 2015
The Ivey Purchasing Managers’ Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, jumped by a seasonally-adjusted 4.1, rising from April’s 58.2 to 62.3 in May. This marked a 19-month high for the volatile index. The increase, which was smaller than the 10.3 jump recorded in the previous month, drove the index further above the 50-threshold that indicates expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 3.3% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel expects industrial production growth of 2.8%.
Author: Robert Hill, Economist