Canada: Ivey PMI inches up unexpectedly in December
The Ivey Purchasing Managers’ Index (PMI), prepared by the Ricard Ivey School of Business, increased to 59.7 in December from 57.2 in November. The index overshot market analysts’ expectations of 56.8 and 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: employment, inventories, prices and supplier delivery times. In December, price pressures intensified, employment growth was largely stable, firms accumulated inventories at a slower pace compared to November and delivery times shortened.