Canada: PMI jumps to 14-month high in March
April 7, 2017
The Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, increased by a seasonally-adjusted 6.1 points from a month earlier to arrive at 61.1 in March. The reading was the highest in more than a year and came in ahead of market expectations of a moderate 1.0 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 2.3% growth in industrial production in 2017, which is up 0.3 percentage points from last month’s forecast. For 2018, the panel expects industrial production growth of 1.9%.
Author: Christopher Thomas, Economist