Canada PMI February 2016

Canada

Canada: PMI falls from January's multi-year high in February

March 4, 2016

The Ivey Purchasing Managers’ Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, decreased a sizable seasonally-adjusted 12.6 points, down from 66.0 in January to 53.4 in February. The decrease puts February’s reading below market expectations of a 59.0 reading. Despite the decrease, the volatile index is still above the 50-threshold that indicates expansion in the manufacturing sector.

FocusEconomics Consensus Forecast panelists see industrial production expanding 0.9% in 2016, which is from last month’s forecast. For 2017, the panel expects industrial production growth of 3.0%.


Author:, Economist

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Canada PMI February 2016

Note: Ivey Purchasing Managers’ Index. A reading above 50 points indicates an expansion in the manufacturing sector while a value below 50 points indicates a contraction.
Source: Richard Ivey School of Business and the Purchasing Management Association of Canada.


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