Key facts
- Canada's Ivey PMI rose to 58.2 in May, up from 57.7 in April.
- The May reading is the highest since September.
Canada's Ivey Purchasing Managers Index (PMI) increased to 58.2 in May, up from 57.7 in April, reaching its highest level since September. The adjusted prices index also rose to 78.0, indicating increased inflation pressures, though the employment gauge dipped slightly.
The Ivey PMI provides insight into the health of Canada's private sector and can influence expectations for broader economic growth and inflation, potentially impacting Bank of Canada monetary policy decisions.
The Canadian Ivey Purchasing Managers Index (PMI) showed that economic activity expanded at a faster pace in May, with the seasonally adjusted index rising to 58.2 from 57.7 in April. This marks the highest level recorded since September. The data also indicated that inflation pressures heated up, as the adjusted prices index reached 78.0, up from 76.6 in the previous month. The gauge for employment, however, dipped to an adjusted 54.3 from 54.7 in April. The unadjusted PMI figure edged lower to 61.3 in May from 61.5 in April.
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