MNI DATA ANALYSIS: Canada October Ivey PMI Rebounds To 61.8

By Yali N'Diaye

     OTTAWA (MNI) - The Canadian Ivey Purchasing Managers Index rebounded 11.4

points to 61.8 in October, retracing nearly all of the 11.5-point drop recorded

in September, the Richard Ivey School of Business reported Wednesday. 

     The increase was the largest since an 11.7-point gain recorded last April,

that brought the index to 71.5.

     The October rebound was more than just a price story since the price index

rose just 3.8 points. The PMI index reflects the change in the value of firms'

purchases across economic sectors.

     October was the first month after the announcement of a preliminary trade

deal between the U.S., Mexico and Canada on September 30, capping a month of

heightening tensions between the U.S. and Canada.

     The inventories index rose 9.1 points to 60.9 in October, and the

employment index was up 2.7 points to 54.3, with 29.2% of respondents reporting

higher employment over the month. The supplier delivery index declined to 43.8

from 47.5.

     On an unadjusted basis, the Ivey PMI index also increased, reaching 64.6

after 56.5 in September.

--MNI Ottawa Bureau; +1 613 869-0916; email: yali.ndiaye@marketnews.com

[TOPICS: MACDS$,M$C$$$]