Canada: PMI rises sharply in September
October 7, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 6.1 points in September, rising from 52.3 in August to 58.4. September’s result was the highest reading since January and beat market expectations of a 53.1 reading. The volatile index is now further above the 50-threshold, indicating expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production contracting 0.1% in 2016, which is up 0.3 percentage points from last month’s forecast. For 2017, the panel expects industrial production growth of 1.7%.
Author: Luis Lopez Vivas, Economist