Canada Economic Activity Contracts in November: Ivey PMI

Canada’s Ivey Purchasing Managers Index slipped to 50.9 in January 2026 from 51.9 in December, but remained above market expectations of 49.7, signaling continued modest expansion. The Employment Index eased to 51.1 from 52.9. Meanwhile, the Supplier Deliveries Index rose to 49.2 from 47.7, the Inventories Index rebounded to 50.9 from 45.8, and the Prices Index climbed to 64.8 from 63.2, pointing to persistent cost pressures.

Canada’s Ivey Purchasing Managers Index rose to 51.9 in December 2025 from 48.4 in November, beating market expectations of 49.5 and signaling a return to expansion after a month in contractionary territory. The Employment Index climbed to 53 from 48, pointing to improved labor conditions. In contrast, the Inventories Index fell to 45.8 from 50, while the Supplier Deliveries Index eased to 47.7 from 49.8, suggesting slightly faster deliveries. Meanwhile, price pressures moderated, with the Prices Index declining to 63.2 from 66.1.

Canada’s Ivey Purchasing Managers Index tumbled to 48.4 in November 2025 from 52.4 in October, and way below expectations of 53.6. The reading marks the first contraction after five consecutive months of expanding economic activity. The contraction came as the employment index tumbled to 48.0 from 51.8, while the inventory index fell to 50.0 from 51.7. Supplier deliveries, on the other hand, rose to 49.8 from 45.4, as well as the prices index rising to 66.1 from 64.3.