CA: Ivey Purchasing Managers' Index


Fri Apr 06 09:00:00 CDT 2018

Actual Previous
Index Level 64.7 58.4

Highlights
March unadjusted Ivey purchasing managers survey reading climbed to 64.7 from February's 58.4. On an adjusted basis, the reading was 59.8, up from 59.6.

On an adjusted basis, the employment index jumped to 60.6 from 52.4 in February. Supplier deliveries index reading was 48.6, down from 53.7. The prices index slipped to a still strong reading of 60.0 from 64.2 the month before. The inventories index eased to 48.6 from 52.4.

On an unadjusted basis, the employment index increased to 59.6 after increasing 51.3 while the price index retreated to 63.3 from 68.2. The inventories index climbed to 56.8 from 51.5. The deliveries index slipped to 50.7 from 51.4 the month before.

Definition
The Ivey purchasing Managers' Index (PMI) measures purchasing activity as indicated by a panel of purchasing managers selected geographically and by sector of activity to match the Canadian economy as a whole. The PMI includes both the public and private sectors and is based on month-end data. Five categories are covered in the survey: purchases, employment, inventories, supplier deliveries and prices. Results are synthesised into a single index which can range between zero and 100. A reading above (below) 50 signals rising (falling) activity versus the previous month and the closer to 100 (zero) the faster is activity growing (contracting).

Description
The Ivey PMI is provided in two formats -- unadjusted and seasonally adjusted. The index shows responses to one question: "Were your purchases last month in dollars higher, the same, or lower than the previous month?" A figure above 50 shows an increase while below 50 shows a decrease.

The index measures the month to month variation in economic activity as indicated by a panel of purchasing managers. The index uses end of the month data and it covers all sections of Canada's economy. The PMI includes both the public and private sectors and is based on month end data Ivey PMI panel members indicate whether their organizations activity is higher than, the same as, or lower than the previous month across the following five categories: purchases, employment, inventories, supplier deliveries and prices.