Canada: Purchasing managers index rebounds in August
September 7, 2011
The Ivey Purchasing Managers Index (PMI) sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada jumped from 45.4 points in July to 57.6 points in August. The increase exceeded market expectations, which saw the PMI rising to a more moderate 46.7 points. On a seasonally adjusted basis, the Ivey PMI rose from 46.8 points in July to 56.4 points in August. As a result, the PMI moved above the 50-point threshold, suggesting manufacturing production expanded in August. The improvement in the index was attributed to increases in the inventories, prices and deliveries components. On the other hand, the employment component of the index deteriorated over August.