The Ivey
Business School Purchasing Managers Index (PMI), measuring Canada’s economic
activity, jumped by 2.4 points to 54.7 in December 2024 from an unrevised 52.3 in November. The latest print pointed to the strongest expansion in the private
sector’s activity since July 2024 (57.6).
The 50-point mark separates expansion from contraction.
Economists had anticipated
the indicator to climb to 55.4 in December.
According to the report, the inventories measure
surged by 5.1 points to 55.2, indicating inventories increased in December
after flat performances in the previous two months. The deliveries gauge jumped by 1.0 point to 44.7, but remained in
negative territory, suggesting a contraction
in deliveries for the ninth straight month. The employment index rose by 0.7 point to 55.3, indicating
continuing growth in employment and at the fastest pace in five months. Meanwhile, the prices indicator slipped by 1.4 points to 61.5, implying
that prices continued to increase last month.