The Ivey Business School released on Wednesday the Purchasing Managers' Index for Canada for the month of October, which came in negative and below market expectations.

According to the reported data, the Ivey Purchasing Managers' Index in Canada recorded a score of 52.0 points in October, which is lower than the expectations of 54.2 points, and the previous reading of the index was about 52.0 points in September.

It is worth noting that the PMI Purchasing Managers' Index released by the Ivey School measures the level of activity among purchasing managers within Canada. This survey is conducted on approximately 175 purchasing managers, who assess business conditions including: employment, production, new orders, prices, and inventories.

If the index reading rises above the benchmark level of 50.0 points, it indicates growth in industrial activity; however, if it falls below this level, it indicates that industrial activity is contracting. This index is a joint project between the Canadian Purchasing Management Association and the Richard Ivey School of Business.