Canada: PMI increases sharply in July
August 5, 2016
The Ivey Purchasing Managers’ Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 5.3 points in July, rising from 51.7 in June to 57.0. July’s result came in well above market expectations of a 50.0 reading and the volatile index is now further above the 50-threshold, indicating expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 0.9% in 2016, which is up 0.6 percentage points from last month’s forecast. For 2017, the panel expects industrial production growth of 3.0%.
Author: Robert Hill, Economist