Canada: PMI returns to expansion in June
July 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, increased a seasonally-adjusted 2.3 points in June, from 49.4 in May to 51.7. The rise puts June’s result above market expectations of a 51.0 reading and brings the volatile index above the 50 threshold, indicating expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 0.9% in 2016, which is up 0.6 percentage points from last month’s forecast. For 2017, the panel expects industrial production growth of 3.0%.
Author: Robert Hill, Economist