Canada: PMI hits three-month low in November
December 6, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, decreased a seasonally-adjusted 2.9 points in November, falling from 59.7 in October to 56.8. November’s result was the lowest reading since August and undershot market expectations of a 59.9 reading. The volatile index is now closer to the 50-threshold, indicating expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see flat growth in industrial production in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects industrial production growth of 1.6%, which is also unchanged from last month’s estimate.
Author: Luis Lopez Vivas, Economist