Canada: PMI rebounds in January
February 6, 2014
The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, jumped a seasonally-adjusted 10.5 points to 56.8 points in January. As a result, the PMI has returned to a level above the 50-point threshold that indicates expansion in the manufacturing sector and has recovered from the over-6-year-low that was registered in December. The print came above the 51.0 points the marked had expected.
FocusEconomics Consensus Forecast panelists see industrial production expanding 1.0% in 2014, which is unchanged from last month's forecast. For 2015, the panel expects industrial production to grow to 2.1%.
Author: Carl Kelly, Economist