Canada: PMI increases sharply to seven-month high in April
May 6, 2015
The Ivey Purchasing Managers’ Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, jumped by a seasonally-adjusted 10.3 from March’s 47.9 to 58.2 in April. The volatile index registered the largest increase since January 2014 and reached the highest level in seven months. The increase contrasted the 1.8 decrease recorded in the previous month and crossed the 50-threshold that indicates expansion in the manufacturing sector once again.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