Canada: Purchasing managers index dips in October
November 4, 2011
The Ivey Purchasing Managers Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, fell from 63.4 points in September to 55.6 points in October. The decline was slightly more moderate than expected by the market, which had the PMI dropping to 54.4 points. That said, the PMI remained above the 50-point threshold for a third straight month, which suggests an expansion in manufacturing production in October. On a seasonally adjusted basis, the Ivey PMI edged down from 55.7 points in September to 54.4 points in October.