The seasonally adjusted Ivey purchasing managers index is little changed for the third month in a row. The October index is 53.4 in October, 53.1 in September, and 53.5 in August. This points to three months of stable conditions of modest expansion.

The seasonally adjusted employment index is down to 54.7 in October after 58.5 in September. The inventories index continues to hover around the neutral market with an increase to 50.9 in October after 48.1 in September and 51.3 in August. The deliveries index also remains close to neutral with a small decline to 48.3 in October after being essentially unchanged at 52.5 in September and 52.7 in August. The prices index is down to 60.0 in October after 67.3 in September, and the lowest since 59.0 in April. Much of the decrease is due to relief in energy costs.

The unadjusted Ivey purchasing managers index is down to 51.9 in October after 54.2 in September. The employment index is down to 54.2 in October from 59.9 in September. The inventories index is up to 48.7 in October from 47.5 in September. The deliveries index declines to 51.7 in October after s to 51.7 in October after 55.8 in September. The prices index is down to 58.3 in October from 64.6 in September.

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.