Canada Ivey PMI for March 2021
- Ivey PMI comes in stronger at 72.9 versus 60.0 last month (adjusted index)
- unadjusted index comes in at 67.3 in March
- employment 62.7 versus 54.0 last month. This is the highest cycle hundred four employment. The 2020, the high point reached 57.6.
- supply deliveries 39.6 versus 38.6 last month
- prices 75.1 versus 80.2 last month. The price index peaked at 82.8 in January, but is well off the 2020 low of 51.2
- inventory 61.7 versus 57.8 last month
The level of 72.9 is the highest since April 2018 when the index reached 71.5. The all-time high was back in March 2011 when the index reached 73.3.
A strong report for the Ivey PMI index but full of optimism that the pandemic does not reignite. The index does tend to be volatile as well. The USDCAD is ignoring strength in the report and moves to a new high (lower CAD) and trades at the highest level since March 30.
