Canada: Ivey PMI edges higher in March
April 6, 2018
In March, the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, edged up 0.2 points to 59.8 points. March’s modest gains came in below analysts’ expectations of a 0.6-point uptick but pushed the seasonally-adjusted index further above the 50-point threshold that separates expansion from contraction in purchasing activity at Canadian firms.
Along with the PMI, Ivey produces four other business-related indices and their readings were mixed in March. Most notably, the employment index jumped in the month—broadly in line with Statistic Canada’s unexpectedly bright jobs report for March, which showed strong full-time employment gains and the unemployment rate stable at 5.8%. Meanwhile, inventories crept up while both prices and supplier delivery times fell in the month.
Author: Christopher Thomas, Economist