The seasonally adjusted Ivey purchasing managers index for August is down to 48.2 from 57.6 in July, and below 53.5 in August 2023. The sharp decrease is mostly due to a weakening in the deliveries index and increase in the prices index.

The seasonally adjust employment index is down to 54.7 in August from 56.1 in July, but nearly the same as 54.8 in August 2023. The inventories index pointed to slower growth at 53.6 in August from 54.8 in July, but is faster than 51.3 in August 2023. The deliveries index is down to 44.8 in August after 46.4 in July and 52.7 in August 2023. Deliveries are facing few delays along the pipeline. The prices index is up to 63.4 in August after 59.2 in the prior month and 66.7 a year earlier. Price increases have moderated since late 2022, but have yet to maintain a slower trend.

The unadjusted Ivey purchasing managers index is down to 50.3 in August after 55.3 in July, and down from 56.8 in August 2023. The employment index is up to 57.3 in August from 56.8 in June and similar to 57.9 in August 2023. The inventories index shows slower gains at 53.2 in August after 56.1 in July, but is above 50.9 in August 2023. The deliveries index is closer to neutral at 46.1 in August after 45.8 in July, but well below 55.2 a year ago. The price index is up to 60.5 in August from 58.1 in July and down from 61.9 a year earlier.

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.