What Is The Canadian Ivey Managers Purchasing Index?

2019-07-22 09:32    forextraders

Canadian Ivey Purchasing Managers Index Definition – Commonly referred to as the CIPM, the Canadian Ivey Purchasing Managers Index measures month-to-month changes in dollars of purchases as indicated by a panel of purchasing managers from across Canada. The index is jointly sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada (PMAC). A reading above 50 indicates expansion, and a rising trend has a positive effect on the nation’s currency. The 175 participants in this survey have been carefully selected geographically and by sector of activity to match the Canadian economy as a whole. The index includes both the public and private sectors. Index panel members indicate whether their organizations activity is higher than the same as, or lower than the previous month across the following five categories: purchases, employment, inventories, supplier deliveries and prices. Forex traders watch these surveys closely because purchasing managers have early access to data about their company’s potential performance in the future, which can be a leading indicator of overall economic performance.

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