Canada Ivey PMI Signals Slower Expansion

Canada's Ivey PMI fell to 55.1 in July 2026 from 56.2 in June, slightly below market expectations of 55.5, but remained in expansionary territory. The reading marked the second consecutive monthly decline and the lowest level since March. The employment index eased to 52.2 from 53.6, although it continued to signal job growth. Meanwhile, the prices index accelerated to 75.5 from 73.7, indicating stronger cost pressures. The supplier deliveries index rose to 45.9 from 44.3 after remaining broadly stable around 44 since April, while the inventories index increased to 54.9 from 50.9, staying in expansionary territory.

Canada's Ivey PMI fell to 56.2 in June 2026 from 58.2 in the previous month, missing market expectations of 59.1. The decline ended a three-month streak of gains, signalling a slowdown in business activity. The employment index edged down to 53.6 from 54.3, but remained in expansionary territory. Meanwhile, the prices index eased to 73.7 from 78.0, indicating that price pressures softened, though they remained elevated. The supplier deliveries index slipped to 44.3 from 44.7, remaining broadly stable around the 44 level since April, while the inventories index rose to 50.9 from 47.9, returning to expansionary territory.

Canada’s Ivey PMI rose further to 58.2 in May 2026 from 57.7 in April and overshooting market forecasts of 55. The latest reading pointed to a slight acceleration in economic activity compared with the previous month, marking the steepest growth since September 2025. The employment index eased slightly to 54.3 from 54.7, but continued to signal solid job growth. The supplier deliveries index rose marginally to 44.7 from 44.3, while the inventories index declined sharply to 47.9 from 56.5, pointing to a significant reduction in stock levels. Price pressures intensified further, with the prices index rising to 78.0 from 76.6, highlighting persistent inflationary momentum across businesses.