The adjusted index is up to 58.2 in March from 51.6 in February. The employment index is up slightly to 60.3 in March after 59.4 in February; it has been fairly steady over the pat five months. The inventories index is up to 54.5 in March from 53.7 in the prior month. It is the highest since 57.6 in October 2022. The deliveries index moderated a bit to 54.1 in March after 55.8 in February, reversing some of the 3.5 gain in February from 52.3 in January. The prices index is down to 62.0 in March from 65.3 in February with price pressures easing along with some energy costs.

The unadjusted Ivey purchasing managers index jumps to 65.2 in March from 50.8 in February, and not far below 68.4 in March 2022. The index shows stronger conditions for employment and inventories, no change in the pace of deliveries, and softer prices.

The unadjusted employment index is up to 61.3 in March from 58.7 in February and rising for the second month in a row. The inventories index is up to 56.6 in March from 54.2 in February and is higher for the third straight month. The deliveries index is unchanged at 54.7 in March from February. The prices index slips to 64.6 from 68.6 in the prior month and shows prices have been easing since the near-term peak of 87.9 in April 2022, albeit unevenly.

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).

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.