| Actual | Previous | |
| Adjusted Index | 49.7 | 56.6 |
| Unadjusted Index | 56.5 | 56.3 |
Highlights
Canada's Ivey Purchasing Managers Index (PMI) fell back below the 50.0 mark to 49.7 in March from 56.6 in February, its lowest level since November 2025, signalling a weakening activity.
Overall, 38.7 percent of survey respondents reported higher purchases in March, while 25.8 percent reported lower purchases.
The picture was mixed, with the employment index back into expansion territory at 51.1 from 49.4 in February.
The price index surged to 75.7 from 63.4, with 59.0 percent reporting higher prices on the month. This surge coincides with higher oil prices in relation to the Iran conflict that started at the end of February.
By contrast, the inventories index dropped 7.8 points to 49.4 and the supplier deliveries index fell 6.4 points to 38.8.
The unadjusted PMI was little changed at 56.5 in March from 56.3 in February.
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.