Canada: PMI plummets in December
January 6, 2016
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 13.7, falling from 63.6 in November to 49.9 in December. The striking decrease puts December’s reading well below market expectations of 55.0. As a result, the volatile index has fallen below the 50-threshold that indicates expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 1.2% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, the panel expects industrial production growth of 1.9%.
Author: Robert Hill, Economist