Canada: PMI falls in August
September 5, 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 3.2 points, dropping from July’s 54.1 points to 50.9 points in August. The reading contrasted market expectations of an increase to 55.3 points. The volatile index currently rests just above the 50-point threshold that indicates expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 3.4% in 2014, which is up 0.3 percentage points from last month’s forecast. For 2015, the panel expects industrial production growth of 2.8%.