Canada: PMI moderates to six-month low in February
March 21, 2017
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, decreased a seasonally-adjusted 2.2 points in February, falling from 57.2 in January to 55.0. February’s reading was the lowest in six month and also below market expectations of an increase to 58.0. The volatile index is now pointing toward the 50-threshold that distinguishes between expansion from contraction in the manufacturing sector.FocusEconomics Consensus Forecast panelists see flat growth in industrial production in 2017, which is up 0.2 percentage points from last month’s forecast. For 2018, the panel expects industrial production growth of 1.8%.
Author: Luis Lopez Vivas, Economist