Canada’s Purchasing Activity Rises In February

7 March 2012 - Which Way to Pay

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Canada’s Purchasing Activity Rises In February

According to Ivey Purchasing Managers Index figures, Canada’s monthly measure of economic activity, the pace of purchasing activity in the economy exceeded predictions rising to as seasonally adjusted 66.5 in February from 64.1 in January. Analysts had expected a decline to 62.0 but any reading above 50 separates expansion from contraction. The February reading was lower than the 70.8 posted for February 2011 but was well above the 52.9 recorded for February 2010. The data has further boosted hopes that economic activity in the first quarter of 2012 could speed up after growth slowed in the last three months of 2011.

Mazen Issa, strategist at TD Securities said, “While the lvey PMI tends to have a poor track record in capturing the cyclical swings in economic growth, today’s print is still consistent with our broader macro view.” Issa added, “The Canadian growth profile is expected to expand at a moderate pace in this year, owing to better U.S. economic momentum and faded downside risks associated with the European debt crisis.”

A report was jointly released by the Purchasing Management Association of Canada and the Richard Ivey School of Business, shows that the Ivey Employment Index rose to 58.8 from 55.2 and the Supplier Delivery Index climbed from 48.8 from 41.9, indicating improvements in the labor market and deliveries from the previous month. 


Related Links:
Purchasing Management Association of Canada
• Forex Promos
Ivey Purchasing Managers Index
• Latest News
For regular news updates
• Economic Calendar
For scheduled economic events


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