Canada: PMI falls to six-month low in June
July 7, 2014
The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, declined a seasonally-adjusted 1.3 points to 46.9 points in June, which represented the lowest value since December 2013. The print came in well below market analysts’ expectations of an increase to 52.0 points and followed the decrease to 48.2 points that was tallied in May. This is the second consecutive month in which the index is below the 50-point threshold, which indicates contraction in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 3.0% in 2014, which is up 0.2 percentage points from last month’s forecast. For 2015, the panel expects industrial production growth of 2.9%.