Urgent - The Ivey Purchasing Managers' Index in Canada is negative and below expectations for December.

On Tuesday, the Ivey Business School released the Purchasing Managers' Index (PMI) data for Canada for December, which came in negative and lower than market expectations.

According to the data, the Ivey Purchasing Managers' Index in Canada recorded 54.7 points in December, which was lower than expectations of 53.5 points. The previous reading of the index was approximately 52.3 points in November.

It is worth noting that the PMI issued by Ivey measures the level of activity among purchasing managers in Canada. The survey is conducted on approximately 175 purchasing managers, who evaluate business conditions including: employment, production, new orders, prices, and inventories.

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