Canada: PMI rebounds in February
March 5, 2015
The Ivey Purchasing Managers’ Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, rose a seasonally-adjusted 4.3 points, from January’s 45.4 points to 49.7 points in February. The increase contrasted the 10.0-point decrease recorded in January. The print overshot the 48.5 points expected by the market. As a result, the volatile index is now closer to the 50-point threshold that indicates expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 3.3% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel expects industrial production growth of 2.8%.
Author: Dirina Mançellari, Senior Economist