Canada: Purchasing managers index rebounds in November
December 6, 2010
The Ivey purchasing managers index (PMI) sponsored by the Richard Ivey School of Business and the Canadian Management Association increased from 56.7 points in October to 57.5 points in November. The reading contrasted market expectations, which had seen the index falling to 56.0 points. A reading above 50 indicates that the manufacturing sector is expanding, whereas a reading below 50 implies a contraction. November's increase was mostly driven by better month-on-month results in the employment component of the index, which rose by 3.1 points. On the other hand, inventories, deliveries and prices components dropped over October.