Canada: PMI jumps back into expansionary territory in July
August 7, 2014
The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, rose a seasonally-adjusted 7.2 points to 54.1 points in July. The reading exceeded market analysts’ expectations of an increase to 53.0 points and contrasted the decrease to 46.9 points that was tallied in June. In addition, it marks the return of the index above the 50-point threshold that indicates expansion in the manufacturing sector. During the two previous months, the PMI had been below this threshold.FocusEconomics Consensus Forecast panelists see industrial production expanding 3.1% in 2014, which is up 0.1 percentage points from last month’s forecast. For 2015, the panel expects industrial production growth of 2.6%.