Canada PMI Crashes Into Contraction

Tyler Durden's picture




 

Canada's Ivey Purchasing Managers Index collapsed from an exuberant and simply unbelievable 63.6 in November to a contractionary 49.9 in December - one of the biggest MoM drops on record and biggest misses on record. On a seasonally-unadjusted basis, this is the weakest print in at least 2 years. From the best data since February 2012 to the worst since February 2015 seems to expose these soft-surveys as practically useless. The huge drop in Inventories suggests a major drag on GDP and an extension of Canada's recession.

From First to Worst!!

 

Unadjusted, this is the weakest data in at least 2 years...

Ivey Purchasing Managers Index

Moar recession? But for America, low oil prices are "unequivocally good" still right?

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Thu, 01/07/2016 - 11:15 | 7010796 Dr. Engali
Dr. Engali's picture

Serves them Canadians right. That's what they get for giving us the Bieber.

Thu, 01/07/2016 - 11:18 | 7010822 Disc Jockey
Disc Jockey's picture

Nobody says it better:

https://youtu.be/4RHVoFpncgA

Thu, 01/07/2016 - 11:20 | 7010836 Looney
Looney's picture

Cousin Loonie is a socialist degenerate gambler… ;-)

Looney

Thu, 01/07/2016 - 11:54 | 7011047 taketheredpill
taketheredpill's picture

 

 

 

But for some strange reason a better fiscal position.

 

For now.

 

Thu, 01/07/2016 - 12:17 | 7011178 asteroids
asteroids's picture

On behalf of all Kanadians, I apologise for Bieber. Gotta teach that boy some manners. On the propaganda radio this morning they mentioned that oil had fallen to its lowest level in 11years. Riddle me this Batman, if that is true, then why hasn't the price of gasoline fallen to that level as well? Time for lunch, maple cured bacon sandwich.

Thu, 01/07/2016 - 13:25 | 7011672 Looney
Looney's picture

... On behalf of all Kanadians, I apologise for Bieber.

Isn't Bieber the guy from Kenya with a questionable birth certificate? ;-)

Looney

Thu, 01/07/2016 - 13:47 | 7011900 Kayman
Kayman's picture

Uhhh..,. You've been taking too many red pills. Ontario and Quebec owe more money than the Canadian federal government.  It may be hard to believe but governments in Canada don't want the truth out any more than the U.S. government.

But, Pierre Junior has a solution- he is bumping up the Syrian immigrant numbers to 50,000.  More hard-working, productive, non-welfare seeking Muslims. Only in Canada....

Thu, 01/07/2016 - 12:36 | 7011301 KnuckleDragger-X
KnuckleDragger-X's picture

Well they've got a socialist government now, so rainbows and unicorn farts forever. Maybe Quebec can try to secede again.......

Thu, 01/07/2016 - 11:24 | 7010850 firstdivision
firstdivision's picture

Does this mean for the next global collapse we get to https://www.youtube.com/watch?v=bOR38552MJA

Thu, 01/07/2016 - 11:57 | 7011061 CHoward
CHoward's picture

LOL - that was an awesome clip, never seen it before.  Thanks for the link!

Thu, 01/07/2016 - 11:59 | 7011069 _ConanTheLibert...
Thu, 01/07/2016 - 12:00 | 7011073 mototard
mototard's picture

We do humbly apologize for the Beiber, Celine Dion and that most Canadian of all - Ted Cruz!!! (born in Alberta).

Thu, 01/07/2016 - 12:17 | 7011182 Dr. Engali
Dr. Engali's picture

Apology accepted, and on behalf of the U.S I'd like to apologize for the 320 million self absorbed war mongering retards we have here. 

Thu, 01/07/2016 - 13:32 | 7011770 Iam_Silverman
Iam_Silverman's picture

"'Id like to apologize for the 320 million self absorbed war mongering retards we have here. "

Hey, hey there buddy - better watchit!  I'm no warmonger!

 

Signed,

Self Absorbed Retard.

Thu, 01/07/2016 - 14:34 | 7012254 slimycorporated...
slimycorporatedickhead's picture

......... who is justice beaver??

Thu, 01/07/2016 - 11:15 | 7010798 winflation
winflation's picture

Drop in inventories is great

Thu, 01/07/2016 - 13:31 | 7011760 Iam_Silverman
Iam_Silverman's picture

"Drop in inventories is great"

Yup, sure is!  That must mean that all of that inventory as been sold!

Thu, 01/07/2016 - 11:15 | 7010801 Disc Jockey
Disc Jockey's picture

Oh Canada!

Thu, 01/07/2016 - 11:17 | 7010813 two hoots
two hoots's picture

Like watching Mt. St Hellens before she blew. 

Thu, 01/07/2016 - 11:18 | 7010821 MathWins
MathWins's picture

So November's number was either bad math, or a big lie.  It's getting harder and harder for governments to make their lies believable.

Thu, 01/07/2016 - 11:18 | 7010823 firstdivision
firstdivision's picture

That RE bubble is going to be one hell of a loud pop.  BOC is going to have to get very creative to extend and pretend. 

Thu, 01/07/2016 - 11:19 | 7010832 ExploitedCitizen
ExploitedCitizen's picture

I live here in Canada.

Fucking idiots are still paying $800k for a shitbox house, all borrowed money.  Everyone leases their BMW/Mercedes, debt at %167.

I fucking hate my own country, the people are the ultimate sheep.  They elected a bunch of libtards, and are more worried about bringing in Syrians then the economy collapsing.  Again, I hate Canadians for being so stupid and sheep like.

Thu, 01/07/2016 - 11:26 | 7010862 Omen IV
Omen IV's picture

SHEEP LIKE?

compared to the Germans who allow their women to be raped on the public square in Colon in the name of politically correct - the Canuks are not the "ultimate"

Thu, 01/07/2016 - 11:28 | 7010882 bamawatson
bamawatson's picture

whereas, my neighbors rape their sheep on the public square

Thu, 01/07/2016 - 11:33 | 7010907 kliguy38
kliguy38's picture

I prefer the solitude of a nice field

Thu, 01/07/2016 - 11:37 | 7010940 marts321
marts321's picture

You think you got it bad, my sheep rape my neighbors on the public square

Thu, 01/07/2016 - 13:51 | 7011938 FrankDrakman
FrankDrakman's picture

In Soviet Russia, pubic square rapes you!

Thu, 01/07/2016 - 12:09 | 7011124 Winston Churchill
Winston Churchill's picture

The slow ones are always ugly.

Thu, 01/07/2016 - 12:23 | 7011214 U4 eee aaa
U4 eee aaa's picture

Rape? I thought it was consensual

Thu, 01/07/2016 - 14:39 | 7012291 slimycorporated...
slimycorporatedickhead's picture

hide your kids, hide your wives.. hide your SHEEP.. cause they're rapin errrbody up in hee

Thu, 01/07/2016 - 11:31 | 7010896 CHoward
CHoward's picture

SHEEP LIKE?

 

compared to the Americans who have given up their 1st Amendment rights (not a privilege granted by the government) so now just about everything is forbidden speech cloaked under "politically incorrect" or "hate" speech.  Shhhhhh- it's anti-American to speak your mind.  Also compared to the Americans who are giving - inch by inch - up their 2nd Amendment rights.  They've already totally given up their 4th Amendment rights - those don't even exist anymore.  Want to see sheep - look at America!

Thu, 01/07/2016 - 11:37 | 7010937 ExploitedCitizen
ExploitedCitizen's picture

Canada has hate speech laws.  Try mentioning the religion of the bankers who are looting us, you'll get 5 years min.  No free speech here.  Toronto is full of white feminist commies who hate anything with a dangler too.  I'm planning my escape from this shithole.  20 years ago it was a nice place, now everywhere I go I see muzzies, indians, and white girls with dyed hair and nose rings.  Terrible place.

Thu, 01/07/2016 - 11:49 | 7011019 . . . _ _ _ . . .
. . . _ _ _ . . .'s picture

Canada, just like every other western nation, is a great place if one steers clear of the cities.

Cities are where the assholes live because everywhere else is too diificult and uncomfortable for their spoiled asses.

Thu, 01/07/2016 - 16:24 | 7013020 ExploitedCitizen
ExploitedCitizen's picture

I've come to notice that too!  Toronto is full of lazy assholes, who want communism because they don't want to work, they just want to sit around smoking weed and 'explore their sexuality'.

Go outside to the rural areas, still some really awesome farmers and women too!

Thu, 01/07/2016 - 13:59 | 7012006 bluskyes
bluskyes's picture

Canada also has a human rights comission. One which Ezra Levant was able to castrate in many ways during his appearance/trial.

Canada has a "Charter of Rights and Freedoms" that is all conditional upon being in line with the good governance of the nation. Though I have used it to get out tickets, since my right to travel is guaranteed in said document - as well as many other older British documents.

Thu, 01/07/2016 - 14:00 | 7012010 Kanda
Kanda's picture

I bet those Indians are acutally Canadians that contribute to society. And I bet those muzzies prefer to be called people and citizens first.

Your hatred is intolerbalte. If you cant stand the society then why don't you move away? Go up north. to the north pole? Your contribution to hatred has no place in your province, in our nation.

Ahhh.. you must be lost, or lost out on wealth accumulation. Hate to see a different colored Kanadian ? That made it? That work?

The noth pole has an opening, its a hole, and why dont you go fall right in it!

Thu, 01/07/2016 - 16:32 | 7013078 ExploitedCitizen
ExploitedCitizen's picture

Why don't you learn to spell, and shove your self righteous PC drivel up your ass?

Thu, 01/07/2016 - 11:30 | 7010892 Mark Mywords
Mark Mywords's picture

Libtards didn't destroy your country. Bankster-gangsters and the move to become more like America - THAT is what killed your beautiful nation.

As a person who has not only been to Toronto, but to Ottawa and Montreal and places in between, I say that with a heavy heart. When Bush was re-elected in 2005, we seriously wanted to move up there. Now, after so many years of that jackoff Harper, it's not even a remote desire. We're stuck here, as I doubt either of us could learn Icelandic in our 40s.

Thu, 01/07/2016 - 11:37 | 7010935 highandwired
highandwired's picture

He's right, it's the Libtard fucking Sheep that allow this shit to go on!  I also live in Canada, in Edmonton, Alberta to be precise and most stupid fucking sheep still think that "things will get better", "oil will go back up", etc, etc.  I hate these fucking sheep also.  I am ashamed to be "Canadian". 

It's great to live in a Marxist paradise! 

Thu, 01/07/2016 - 11:39 | 7010952 ExploitedCitizen
ExploitedCitizen's picture

It is pure marxist here!  You are right on.  I took the wife to Roots to cash in some shitty gift cards, the fucking white girls (losers) running the place were all discussing the communist manifesto!  When the fuck did feminism = communism?  They all looked like feminists, you know, dyed hair, nose rings, toques, chubby, ugly and low IQ.  I hate this country now, I live in the countryside away from the freakshow.

Thu, 01/07/2016 - 11:41 | 7010962 Mark Mywords
Mark Mywords's picture

I'm sorry, but you are incorrect, too. Blaming liberals is always the fascist way of doing things.

Big business ruined your nation, as it has ruined the entire world. Those people running around thinking it's gonna get better, 'cause it just hss to - I'll betcha they are registered Tories. It's FUCKING ALBERTA, not Ontario, after all.

Thu, 01/07/2016 - 11:51 | 7011030 highandwired
highandwired's picture

Tory...Liberal...what's the difference?  They are all fucking "Libtards"!  None of the fucking sheep want freedom...just for govy "to do something"!  Fuck the sheep and as far as I'm concerned, they deserve to be slaughtered!

Thu, 01/07/2016 - 12:00 | 7011071 Reichstag Fire Dept.
Reichstag Fire Dept.'s picture

@Mark My Words:

Are you some kind of retarded stupid fucking dumb cunt or....what?

Low information, entitled, Socialist/Liberals ruined Canada. Very few in Canada seem to be smart enough to see that the government can no longer afford to buy your vote. So, how they now gain popularity is by taking things away from the side you don't like.

Socialists are the most self destructive with this. They would give away every right and freedom the presently enjoy just to make sure a Conservative has their taken away. The justify it by saying Marxist things like "it's for the common good" or "it's for public safety".

MMW, just go back to watching your Drama Teacher on the CBC telling how smart you all are...

Thu, 01/07/2016 - 16:52 | 7013179 ExploitedCitizen
ExploitedCitizen's picture

Exactly.  I had some feminist ranting about how she can't get work as a child care worker (babysitter) because the greedy government slashed funding to some programs.  I told her it's because Canada is beyond broke, bankrupt, insolvent.  She looked at me in confusion, huh? she said.  She had no fucking idea we owe $600+ Billion and the average citizen is carrying 167% debt loads.  Idiots.  These idiots are why Canada is going downhill fast.

Thu, 01/07/2016 - 16:41 | 7013126 ExploitedCitizen
ExploitedCitizen's picture

I don't buy into the whole Liberal/Conservative bullshit.  Fact is Canadians have lost their way, we used to be a Christian nation with strong family values.  Now it is a dumping ground for the third world, and most of the people are communist atheists who despise anything wholesome and good.

The worst part is, Canadians will elect any crook/scammer who waves a rainbow flag.  Easy way to get into office, wave a rainbow flag and be a scammer.  Merit means nothing anymore, just wave a rainbow flag and your in.

Thu, 01/07/2016 - 13:36 | 7011807 Iam_Silverman
Iam_Silverman's picture

"When Bush was re-elected in 2005"

2005?  I thought all of our presidential election years were divisible by 4.  Damned public education!

Thu, 01/07/2016 - 13:54 | 7011958 FrankDrakman
FrankDrakman's picture

Can you name one thing Harper did that would qualify him as a 'jackoff'?

Especially compared to the Dauphin, whose only been in office three months, and has already shit-canned half a dozen 'solemn' electoral promises. 

Don't worry, baby, the budget will balance itself! Now, see my beautiful hair?

Thu, 01/07/2016 - 15:07 | 7012480 northern vigor
northern vigor's picture

You are as stupid as the Liberal voters that listened to the CBC...Harper was the best PM in fifty years, but the media made him out to be a dictator, We'll miss him.

Thu, 01/07/2016 - 11:36 | 7010933 opt out
opt out's picture

apparently you didn't get the memo. here in the states debt relief will be the next form of QE. get leveraged to the hilt - it will all be 'forgiven'.

Thu, 01/07/2016 - 12:33 | 7011289 Xscream
Xscream's picture

it's  ok  Canada has the best hockey players :) 

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