Canada: PMI inches down in December
January 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, ticked down a seasonally-adjusted 1.5 points, falling from November’s 56.9 points to 55.4 points in December. The reading overshot market expectations of a decrease to 53.0 points. As a result, the volatile index still rests further above the 50-point 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%.