The Ivey PMI for Canada dropped to 57.2 in November of 2018 from 61.8 in the previous month and well below than market expectations of 60.3. Declines were seen in employment (54.1 from 54.3 in October); inventories (55 from 60.9) and supplier deliveries (40.8 from 43.8). Meanwhile, price pressures diminished (63.7 from 72.6). Business Confidence in Canada averaged 57.10 Index Points from 1999 until 2018, 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 59.00 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 57.00 in 12 months time. In the long-term, the Canada Business Confidence is projected to trend around 52.00 Index Points in 2020, according to our econometric models.