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The Ivey PMI or Ivey Purchasing Managers Index is a result of a survey sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada. The survey involves 175 participants. The purchasing managers are carefully selected among different regions and sectors (public and private) to match the Canadian economy as a whole.
Purchasing managers are asked about the activity of their organization. They indicate whether this activity or their purchases, in each of the following categories: purchases, employment, inventories, supplier deliveries and prices, are higher, lower or the same as the previous month. The data is compiled and an index for each category, as well as a general index, is created.
An index value above 50 indicates that purchases have increased from the previous month and an index value below 50 indicates that purchases have decreased from the previous month.
An increase in organization purchases and spending is a good sign for the economy. Generally, firms increase spending if they are optimistic and if they expect the demand to grow. Thus, the PMI index is used to measure business optimism.
This item downloads five indexes from the Richard Ivey School of Business website (www.ivey.uwo.ca). There are no adjustments made to the data.
The indices data are retrieved and associated with five symbols:
^IVEY_PMI_INDEX: Ivey Purchasing Managers Index - Ivey PMI.
^IVEY_PMI_INVENTORIES: Ivey Inventories Index
^IVEY_PMI_PRICES: Ivey Prices Index
^IVEY_PMI_DELIVERIES: Ivey Deliveries Index
^IVEY_PMI_EMPLOYMENT: Ivey Employment Index
A similar index for the United States, called the Manufacturing Purchasing managers Index, is released by The Institute of Supply Management.
The PMI Index provided by the Institute of Supply Management is adjusted for seasonality, which is not the case for the Ivey PMI Index (Purchasing Management Association of Canada). ISM Manufacturing PMI Index item let you to download the PMI index data as well as five other indexes (New orders, production, employment, deliveries and inventories)
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