Canada: PMI edges down in August
September 7, 2012
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 0.3 points to 62.5 points in August. The decrease, however, was smaller than market expectations that had the PMI declining to 59.0 points. Despite the monthly deterioration, the PMI remains above the 50-point threshold, which indicates that the manufacturing sector is expanding. Moreover, at the current level, the PMI index is 6.1 points above the level observed in the same month last year.