The Ivey PMI for Canada fell to 54.7 in January of 2019 from 59.7 in the prior month and compared with market expectations of 56. It is the lowest reading since September, as decreases were seen in supplier deliveries (41.7 from 43.8 in December) and employment (51.8 from 54.0). Meanwhile, inventories went up (53.6 from 52.5). Also, price pressures weakened (57.4 from 64.6). Business Confidence in Canada averaged 57.10 Index Points from 1999 until 2019, reaching an all time high of 75 Index Points in May of 2006 and a record low of 36.10 Index Points in January of 2009.
Business Confidence in Canada is expected to be 60.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Canada to stand at 55.00 in 12 months time. In the long-term, the Canada Business Confidence is projected to trend around 52.00 Index Points in 2020, according to our econometric models.