Canada Ivey PMI

Data Macro PMI

Source: Ivey Business School
Source Link: https://iveypmi.uwo.ca/
Frequency: Monthly
Next Release(s): December 4th, 2025 10:00 AM

Latest Updates

Canada’s Ivey Purchasing Managers Index (PMI) rose +9.7 pts MoM to 59.8 in September 2025, signaling stronger private sector expansion and its highest level since early 2023, while remaining +6.7 pts YoY above September 2024.
- Employment Index climbed sharply to 50.2 (+4.2 pts MoM, -1.4 pts YoY), moving back into expansionary territory after August’s contraction, suggesting modest recovery in hiring.
- Inventories Index rose to 56.4 (+6.9 pts MoM, +3.1 pts YoY), indicating firms rebuilt stock levels following earlier declines.
- Supplier Deliveries Index edged down to 46.4 (-0.6 pts MoM, -0.6 pts YoY), pointing to slightly faster delivery times compared with August and last year.
- Prices Index eased to 63.2 (-1.9 pts MoM, +5.0 pts YoY), remaining elevated but showing mild moderation in cost pressures from August’s spike.
- Overall, the report shows broad-based improvement in business conditions, with stronger output and inventory activity offset by still-high prices and uneven supplier performance.
The Canadian Ivey PMI fell -5.7 pts MoM to 50.1 in August 2025, hovering just above the expansion threshold, but was up +1.9 pts YoY from August 2024.
- The Employment Index dropped -5.2 pts MoM to 46.0, the weakest reading since mid-2020, and down -8.7 pts YoY, pointing to contraction in hiring.
- Inventories edged up +0.8 pts MoM to 49.5 but remained below neutral, down -4.1 pts YoY, suggesting firms are cautious about stock levels.
- Supplier Deliveries fell -3.2 pts MoM to 47.0, though still +2.2 pts higher YoY, indicating faster delivery times compared with last year.
- The Prices Index eased -3.4 pts MoM to 65.1 but stayed elevated, up +1.7 pts YoY, signaling persistent cost pressures despite some moderation.
The Canadian Ivey PMI rose +2.5 pts MoM to 55.8 in July 2025, indicating a stronger expansion pace despite a slight -1.8 pt drop YoY from July 2024. The July reading is the highest since February 2025 (highest since US tariffs have been in place).
- The Employment Index rose +1.7 pts MoM to 51.2 but remains down -4.9 pts YoY.
- Inventories dropped -1.9 pts MoM to 48.7 and are down -6.1 pts YoY.
- Supplier Deliveries jumped +5.5 pts MoM to 50.2 and are up +3.8 pts YoY, signaling delivery times are stabilizing.
- The Prices Index fell -1.7 pts MoM to 68.5 but remains elevated, up +9.3 pts YoY.
The Canadian Ivey PMI rose 4.4 pts to 53.3 in June 2025, signaling a return to expansion territory after two months below the 50 threshold, though still well below the 62.5 reading from June 2024.
- The Employment Index declined -1.6 pts MoM to 49.5, moving back into contraction and down -3.4 pts YoY.
- Inventories fell -4.3 pts MoM to 50.6 and are down -2.1 pts YoY.
- Supplier Deliveries Index dropped -2.8 pts MoM to 44.7, indicating faster deliveries and continued supply-side easing.
- The Prices Index rose to 70.2, up +3.3 pts MoM and +7.9 pts YoY, suggesting accelerating input cost pressures.
The Canadian Ivey PMI rose 1.0 pts to 48.9 in May 2025, remaining below the 50 mark for the second consecutive month and signaling continued contraction.
- The Employment Index rebounded +3.1 pts to 51.1 but remains down -5.3 pts YoY.
- Inventories increased to 54.9 (up +1.8 pts MoM and +5.8 pts YoY).
- Supplier Deliveries rose to 47.5 from 45.1 but remain below neutral.
- The Prices Index declined -3.1 pts MoM to 66.9, though still +3.4 pts above May 2024.
The Canadian Ivey PMI fell -3.4 pts to 47.9 in April, the lowest since January and below expectations of a slight decrease to 51.2.
- The Employment Index fell -0.2 pts to 48.0, the weakest in over two years.
- The Inventories Index edged up 0.1 pts to 53.1, and the Supplier Deliveries Index increased 1.9 pts to 45.1.
- The Prices Index moderated, down -5.6 pts to 70.0, but was still higher than readings for the past two years.
Canada’s Ivey PMI fell -4.0 pts to 51.3 in March, below expectations of a decline to 53.2.
- The Employment Index fell -5.5 pts to 48.2, the first negative reading for over two years.
- The Prices Index increased another 4.1 pts to 75.6, now up 14.1 pts since December 2024.
- The Inventories Index jumped 3.6 pts to 53.0 as Canadian firms built inventories ahead of tariffs.
- The Supplier Deliveries Index fell -4.4 pts to 43.6 suggesting that there was a sharp slowdown in deliveries at the end of Q1 2025.
Canada’s Ivey PMI bounced 8.2 pts to 55.3 in February, the highest since July 2024.
- The Employment index increased 0.8 pts to 53.7.
- The Supplier Deliveries index and Inventories index were both in contraction at 47.6 and 49.4, respectively.
- The Prices index jumped 7.1 pts to 71.5.
Canada’s Ivey PMI fell to 47.1 in January, a -7.6 pt decline from December and the lowest since December 2020.
The Canadian Ivey PMI increased 2.4 pts to 54.7 in December, the highest since July.