Canada: PMI continues to moderate in April
May 6, 2014
The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, fell a seasonally-adjusted 1.1 points to 54.1 points in April. The print came in slightly below market analysts' expectations of a decline to 54.5 points. The drop followed the modest decrease to 55.2 points that was tallied in March. Nevertheless, the index remains above the 50-point threshold that indicates expansion in the manufacturing sector.
FocusEconomics Consensus Forecast panelists see industrial production expanding 2.4% in 2014, which is unchanged from last month's forecast. For 2015, the panel expects industrial production growth at 2.8%.
Author: Armando Ciccarelli, Head of Data Solutions