The Ivey PMI for Canada rose to 54.3 in March 2019 from 50.6 in the previous month and beating market expectations of 51.1. Employment increased (54.5 from 53.2 in February) while inventories (47.8 from 52.2) and supply deliveries (46.2 from 51.9) declined. Meantime, price pressures weakened (58.7 from 59.8). Business Confidence in Canada averaged 57.07 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 52.00 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 57.00 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.