Canada: Purchasing managers index drops in December
January 6, 2011
The Ivey Purchasing Managers Index (PMI) sponsored by the Richard Ivey School of Business and the Canadian Management Association plunged from 57.5 points in November to 50.0 points in December. The reading came in below market expectations, which had seen the index falling to 53.3 points. December's PMI figure indicated that the manufacturing sector was neither expanding (above the 50-point threshold) nor contracting (below the 50-point threshold). December's decrease was mostly driven by worse month-on-month results in the employment and deliveries components of the index, which fell by 7.5 and 3.6 points respectively. On the other hand, inventories and prices components increased over November.