The Ivey PMI for Canada increased to 55.9 in April 2019 from 54.3 in the previous month and beating market expectations of 53. It was the strongest reading in four months, as supply deliveries rose (48.7 from 46.2). On the other hand, employment went up at a slower pace (53.7 from 54.5) and inventories fell further (46.4 from 47.8). Meantime, price pressures strengthened (58.9 from 58.7). Business Confidence in Canada averaged 57.06 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 52.00 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.