Canada: PMI falls in June
July 5, 2013
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 seasonally adjusted 7.8 points to 55.3 points in June. The figure came in below market expectations that had the PMI moderating to only 58.3 points.
Despite the 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 6.3 points above the level observed in the same month last year.
FocusEconomics Consensus Forecast panellists see industrial production expanding 1.8% in 2013, which is up 0.2 percentage points from last month's forecast. For 2014, the panel sees industrial production growing 2.6%.