The seasonally adjusted Ivey purchasing managers index for November is up to 54.7 after 53.4 in October. The detail indexes are mixed, but on balance are only slightly more positive.

The employment index is up to 55.3 in November after 54.7 in October with hiring moderate in recent months. The inventories index is essentially unchanged at 50.5 in November after 50.9 in the prior month. The deliveries index continues to register just at or below neutral. In November, it is up to 51.4 after 48.3 in October. While the prices index continues to point to only modest upward pressures, these were somewhat higher at 62.1 in November after 60.0 in the prior month.

The unadjusted purchasing managers index is up to 53.2 in November after 51.9 in October.

The unadjusted employment index is down to 52.4 in November after 54.2 in October and is at its slowest for 2023 to date. The inventories index is down to 47.0 in November after 48.7 in October and reflects further contraction in inventory growth. The deliveries index continues to hover around the neutral 50-mark at 50.6 in November after 51.7 in the prior month. The prices index is faster at 59.4 in November from 58.3 in October. Price increases remain moderate but improvement in inflationary pressure may be stalled.

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.