Canada: PMI inches up to 15-month high in April
May 5, 2017
The Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, increased by a seasonally-adjusted 1.3 points from a month earlier to arrive at 62.4 in April. The reading was the highest in more than a year and came in ahead of market expectations of a more moderate 1.1 point increase. The index has been generally climbing away from the 50-point threshold that distinguishes expansion in the manufacturing sector for the past several months.FocusEconomics Consensus Forecast panelists expect 2.8% growth in industrial production in 2017, which is up 0.7 percentage points from last month’s forecast. For 2018, the panel expects industrial production growth of 1.7%.
Author: Christopher Thomas, Economist