Canada: PMI jumps up in October
November 6, 2013
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 10.9 points to 62.8 points in October. The figure, which overshot market expectations of no change, climbed to a position well above the 50-point threshold that indicates expansion in the manufacturing sector.
FocusEconomics Consensus Forecast panelists see industrial production expanding 1.0% in 2013, which is down 0.5 percentage points from last month's forecast. For 2014, the panel expects industrial production to grow to 2.1%, which is down 0.2 percentage points from last month's estimate.