Canada: PMI gains ground in August
September 7, 2015
The Ivey Purchasing Managers’ Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, rose a seasonally-adjusted 5.1, climbing from 52.9 in July to 58.0 in August. The figure came in above market expectations of an index value of 52.0. The increase brings the volatile index comfortably above the 50-threshold that indicates expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 3.3% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel expects industrial production growth of 2.8%.
Author: Robert Hill, Economist