Canada: PMI falls for a third straight month in October
November 6, 2012
The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, decreased for the third consecutive month and fell a seasonally adjusted 2.1 points to 58.3 points in October. The deterioration came broadly in line with market expectations that had the PMI declining to 58.2 points. Despite the monthly deterioration, the PMI remains above the 50-point threshold, which indicates that the manufacturing sector continues to expand. Moreover, at the current level, the PMI index is 3.9 points above the level observed in the same month last year.