| Consensus | Actual | Previous | |
|---|---|---|---|
| Adjusted Index | 55.6 | 56.5 | 56.3 |
| Unadjusted Index | 54.4 | 43.7 |
Highlights
The seasonally adjusted Ivey purchasing managers index is essentially unchanged at 56.5 in January after 56.3 in December. It is below 60.1 in January 2023.
The slightly higher January reading reflects a small slowing in the employment index to 57.2 after 57.9 in December, supplier deliveries running close to neutral at 51.8 in January after 57.8 in December, the inventory index also continuing around the neutral mark at 50.3 in January from 49.1 in the prior month, and prices paid easing back to 62.2 in January from 64.5 in December.
The unadjusted purchasing managers index is up to 54.4 in January from 43.7 in December, and similar to the 54.7 in January 2023.
The unadjusted employment index remains positive, but slower at 51.1 in January after 52.8 in December. The inventories index shows contraction for the fifth month in a row at 47.8 in January. The deliveries index is hovering around neutral at 49.4 in January after 50.8 in December. The prices index is higher at 65.3 in January from 62.6 in December.
The slightly higher January reading reflects a small slowing in the employment index to 57.2 after 57.9 in December, supplier deliveries running close to neutral at 51.8 in January after 57.8 in December, the inventory index also continuing around the neutral mark at 50.3 in January from 49.1 in the prior month, and prices paid easing back to 62.2 in January from 64.5 in December.
The unadjusted purchasing managers index is up to 54.4 in January from 43.7 in December, and similar to the 54.7 in January 2023.
The unadjusted employment index remains positive, but slower at 51.1 in January after 52.8 in December. The inventories index shows contraction for the fifth month in a row at 47.8 in January. The deliveries index is hovering around neutral at 49.4 in January after 50.8 in December. The prices index is higher at 65.3 in January from 62.6 in December.
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.
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.
