Canada: PMI tumbles in November
December 5, 2013
The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, fell a seasonally-adjusted 9.1 points to 53.7 points in November, consequently losing most of the ground that was gained in October. The figure, which is well below market expectations of a drop to 59 points, is now just above the 50-point threshold that indicates expansion in the manufacturing sector.
FocusEconomics Consensus Forecast panelists see industrial production expanding 1.0% in 2013, which is down 0.5 percentage points from last month's forecast. For 2014, the panel expects industrial production to grow to 2.1%, which is down 0.2 percentage points from last month's estimate.
Author: Carl Kelly, Economist