Ep. 194 - PMI Insights: A look at the Americas
Our Purchasing Managers' Index team discusses key 2023 themes through the lens of economies in the Americas.
The economists see quite a subdued picture in Canada from their latest survey results. Firms are concerned about high interest rates and how they may squeeze clients' budgets. The newly launched PMI for the Canadian service sector, which covers private sector services accounting for about half of the country's GDP, offers additional insights into business activity, new orders, employment and more.
In the US, sentiment has picked up from the previous survey, and that confidence is flowing into expectations around employment and investment. Companies remain wary that inflation could rise again.
In Brazil, the central bank is cutting rates after aggressively raising them in 2022 to combat inflation. The economy has managed to grow throughout 2023, with services doing most of the heavy lifting.
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