Canada: PMI ticks up in February
March 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, inched up a seasonally-adjusted 0.4 points to reach 57.2 points in February. The market had expected a drop to 53.1 points. The modest gain came on the back of the significant 10.5-point jump recorded in January, which drove the index above the 50-point threshold that indicates expansion in the manufacturing sector. 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