IHS Markit Canada Manufacturing PMI - Seite 2

COMMENT

Commenting on the PMI data, Tim Moore, Economics Associate Director at IHS Markit said:

"July data provides some encouragement that the downturn in Canadian manufacturing production has started to lose intensity, with the latest survey pointing the slowest drop in output for four months. A rebound in business expectations and stronger jobs growth were also positive developments in July. At the same time, the slowdown in input price inflation to its lowest for over six years is a welcome relief and should help alleviate some of the pressure on operating margins. "External demand conditions remain the main concern for the manufacturing sector, as highlighted by an accelerated reduction in new export orders in July. There were widespread reports that global trade frictions and softer economic growth in key markets had held back export sales."

Methodology

The IHS Markit Canada Manufacturing PMI is compiled by IHS Markit from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Survey responses are collected in the second half of each month and indicate the direction of change compared to the previous month. A diffusion index is calculated for each survey variable. The index is the sum of the percentage of ‘higher’ responses and half the percentage of ‘unchanged’ responses. The indices vary between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The indices are then seasonally adjusted. The headline figure is the Purchasing Managers’ Index (PMI). The PMI is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. Underlying survey data are not revised after publication, but seasonal adjustment factors may be revised from time to time as appropriate which will affect the seasonally adjusted data series. June 2019 data were collected 12-24 June 2019. For further information on the PMI survey methodology, please contact [e-mail].