Canada PMI June 2018


Canada: Ivey PMI ticks up in June

July 6, 2018

In June, the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, ticked up 0.6 points to land at 63.1 points. June’s reading, which came in above analysts’ expectations of a 61.0-point outturn, was still elevated by recent historical standards. Furthermore, the seasonally-adjusted index remained comfortably 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 outlined a slower expansion in June. Most notably, all but the prices index fell. Inventories rose at a slower pace, while supplier delivery times continued to lengthen. Meanwhile, the employment index dipped only slightly—roughly in line with Statistics Canada’s strong jobs report for June, which nonetheless saw the unemployment rate tick up to 6.0%.

FocusEconomics Consensus Forecast panelists expect fixed investment to increase 4.2% in 2018, which is unchanged from last month’s forecast. For 2019, our panel expects fixed investment to increase 2.3%.


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Canada PMI Chart

Canada PMI June 2018

Note: Ivey Purchasing Managers’ Index. A reading above 50 points indicates an expansion in purchasing activity while a value below 50 points indicates a contraction.
Source: Richard Ivey School of Business and the Purchasing Management Association of Canada.

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