The seasonally adjusted Ivey purchasing managers index for September is little changed at 53.1 after 53.5 in August. The employment index is up to 58.5 in September from 54.8 in August to its highest since 60.3 in March. The inventories index is down to 548.1 in September from 51.3 in the prior month. The inventories reading has hovered close to neutral since April. The deliveries index is close to unchanged at 52.5 in September from 52.7 in August. The pace of supplier deliveries has been fairly steady being neither too fast nor too slow since April. Imbalances in the supply chain are largely resolved. The price index is up to 67.3 in September after 66.7 in August and is the highest since 67.5 in December 2022. Rising energy costs have upped costs, but the index is consistent with only modest increases.

The unadjusted Ivey purchasing managers index is down to 54.2 in September after 56.8 in August. The employment index is up to 59.9 in September from 57.9 in the prior month and is the highest since 61.4 in June. The inventories index dipped below neutral to 47.5 in September after 50.9 in August and is the lowest since 48.4 in December. The deliveries index is little changed at 55.8 in September after 55.2 in the prior month and is the highest since 55.9 in June. The prices index is up to 64.6 in September after 61.9 in August and is the highest since 64.6 in March.

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.