Canada: PMI moderates in October
November 6, 2014
The Ivey Purchasing Managers’ Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, decreased a seasonally-adjusted 7.4 points, falling from September’s 58.6 points to 51.2 points in October. The reading undershot market expectations of a decrease to 57.0 points. The volatile index now rests closer to the 50-point threshold that indicates expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 3.3% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel expects industrial production growth of 2.8%, which is unchanged from last month’s forecast.