Canada: PMI moderates in March
April 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, fell a seasonally-adjusted 2.0 points to 55.2 points in March. The print came in below market analysts' expectations as they had projected an increase to 59.0 points. The drop followed the modest increase tallied in February when the index reached 57.2 points. Nevertheless, the index remains above the 50-point threshold that indicates expansion in the manufacturing sector.
FocusEconomics Consensus Forecast panelists see industrial production expanding 2.4% in 2014, which is unchanged from last month's forecast. For 2015, the panel expects industrial production growth at 2.8%.
Author: Armando Ciccarelli, Head of Data Solutions