Canada: PMI rebounds in December
January 7, 2013
The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally adjusted 5.3 points to 52.8 points in December. The improvement exceeded market expectations that had the PMI rising only to 49.3 points.
As a result of the monthly improvement, the PMI is now above the 50-point threshold, which indicates that the manufacturing sector is expanding. However, at the current level, the PMI index is 10.7 points below the level observed in the same month the year before.