Data released in Canada showed that the Ivey Purchasing Managers Index recorded a positive reading that exceeded market expectations, with the Ivey Purchasing Managers Index recording 57.5 points in March, better than the expected 54.2 points, and the previous reading of the index was about 53.9 points in February.

It is noteworthy that the PMI issued by Ivey College measures the level of activity of purchasing managers within Canada. This survey is conducted on about 175 purchasing managers, who evaluate business conditions including: employment, production, new orders, prices, and inventories.

If the index reading rises above the standard level of 50.0 points, this indicates industrial activity growth, while a reading below that 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.