Canada: PMI rebounds strongly in July
August 7, 2012
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 13.8 points to 62.8 points in July. The rise exceeded market expectations that had the PMI rebounding to only 52.0 points. As a result of the monthly improvement, the PMI returned above the 50-point threshold, which indicates that the manufacturing sector is expanding. Moreover, at the current level, the PMI index is 16.0 points above the level observed in the same month last year.