Canada: Ivey PMI edges down in November
The Ivey Purchasing Managers’ Index (PMI), prepared by the Richard Ivey School of Business, decreased to 57.2 in November from 61.8 in October. However, the index remained well above the 50-point threshold separating expansion from contraction in purchasing activity by Canadian firms.
Along with the PMI, Ivey measures four other business-related indices, all of which notched down in November over the previous month. Most notably, the prices index saw a sharp fall, likely on lower oil prices. The employment index ticked down marginally in November but remained higher than the same time last year, while firms accumulated inventories at a slower pace compared to October and delivery times shortened.