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.