The Ivey PMI for Canada declined to 48.7 in September 2019 from 60.6 in the previous month, well below market expectations of 54.3 and reaching its lowest level since March 2015. Inventories (50.5 from 54.8 in August) and employment (49.6 from 52.7) dropped while supplier deliveries (50.2 from 49.9) and prices (56.9 from 51.3) increased. Business Confidence in Canada averaged 57.01 Index Points from 1999 until 2019, reaching an all time high of 75 Index Points in May of 2006 and a record low of 36.10 Index Points in January of 2009.
Business Confidence in Canada is expected to be 55.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Canada to stand at 54.50 in 12 months time. In the long-term, the Canada Business Confidence is projected to trend around 54.00 Index Points in 2020, according to our econometric models.