| Actual | Previous | |
| Adjusted Index | 56.2 | 58.2 |
| Unadjusted Index | 59.7 | 61.3 |
Highlights
Canada business activity slowed in June, as the PMI edged down to 56.2 from 58.2 in May, remaining above the 50 mark signaling growth for the third consecutive month.
The survey shows 40.3 percent of respondents reported greater purchases, while 20.8 percent reported lower purchases.
The Employment index dipped to 53.6 from 54.3 and the Supplier Deliveries index edged down to 44.3 from 44.7. After three months of increases, the Price index declined to 73.7 in June from a peak at 78.0 in May.
The Inventories index rose to 50.9 from 47.9.
The unadjusted PMI index decreased to 59.7 in June from 61.3 in May.
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.