Canada Ivey PMI Falls To 55.1, Misses Consensus 55.5

Canada’s Ivey PMI registered 55.1 in July 2026, missing the consensus estimate of 55.5. The index declined from 56.2 in June 2026, marking a 1.1-point drop between the two months. Despite the pullback, the reading remains above the 50 threshold, indicating ongoing expansion in Canadian private sector activity after several months of readings in the mid- to high-50s earlier in 2026. The Ivey PMI, which captures purchasing activity across sectors including manufacturing, services, and public institutions, reflects changes in orders, employment, inventories, and supplier deliveries, though detailed July sub-index data are not provided here. Compared with earlier 2026 readings such as 58.2 in May and 57.7 in April, the latest figure signals a moderation from stronger mid-year momentum but still aligns with Canada’s broader macro backdrop of steady domestic demand and trade-linked activity. Market participants now monitor how this modest downside surprise influences Canadian dollar trading, Bank of Canada assessments of business conditions, and upcoming releases on employment, GDP, and other sentiment indicators. Updated 8/7/26