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Free AccessMNI DATA REACT: Canada Ivey PMI Falls to Record Low in April
By Greg Quinn
OTTAWA (MNI) - Canada's Ivey purchasing managers index plunged to another
record low in April as coronavirus shutdowns remained in place.
The index fell to 22.8 from 26.0 in March after seasonal adjustments, the
Ivey business school at Ontario's Western University reported Thursday. The
index signaled expansion as recently as February when it was 54.1, with 50 the
dividing line between growth and contraction.
The prior record low in data back to 2000 was 42.1 during the 2008-2009
recession.
Policymakers and investors are still seeking to get a handle on how steep
and how long the recession triggered by health shutdowns to prevent more
COVID-19 fatalities will be. The Ivey index is one of the first clear readings
on Canada on April, a month where most of the health shutdown orders that took
hold in March remained in place.
Three of four other categories in the Ivey report showed readings below 50,
the lowest being 18.2 for the supplier deliveries index. The employment index
was 22.9, also a record low. The inventories reading climbed to 34.5 from 33.6,
while the price measure fell to 51.2 from 57.3.
--MNI Ottawa Bureau; +1 613-314-9647; email: greg.quinn@marketnews.com
[TOPICS: MACDS$,M$C$$$,MT$$$$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.