Canada: PMI plunges in August
September 7, 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 4.7 points in August, falling from 57.0 in July to 52.3. August’s print was below market expectations of 55.4. Despite the large drop, the volatile index remains above the 50-threshold, indicating expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 0.4% in 2016, which is down 0.9 percentage points from last month’s forecast. For 2017, the panel expects industrial production growth of 1.8%.
Author: Luis Lopez Vivas, Economist