Canada: PMI rises to eleven-month high
October 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, increased a seasonally-adjusted 7.7 points, rising from August’s 50.9 points to 58.6 points in September. The reading surpassed market expectations of an increase to 53.0 points and represented the highest print since October 2013. The volatile index now rests further above the 50-point threshold that indicates expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 3.4% in 2014, which is unchanged from last month’s forecast. For 2015, the panel expects industrial production growth of 2.8%.