Canada: Ivey PMI bounces back in October
The Ivey Purchasing Managers’ Index (PMI), prepared by the Richard Ivey School of Business, rebounded to 61.8 in October from its tumble to 50.4 in September. The reading shattered analysts’ expectations of a 50.9-reading as the USMCA calmed trade anxieties at the start of October. The seasonally-adjusted index returned to levels sustained over the summer months and landed well above the 50-point threshold separating expansion from contraction in purchasing activity by Canadian firms.
Along with the PMI, Ivey produces four other business-related indices, all of which were up besides supplier-delivery times. Notably, employment appeared to notch up in October as the economy continued operating close to capacity.