The Ivey PMI for Canada rose to 54.2 in July 2019 from 52.4 in the prior month, beating market expectations of 53.0, amid increases in employment (56.6 from 52.7 in June) and prices (59.2 from 55.0). Meanwhile, inventories (46.9 from 50.9) and suppliers deliveries (46.0 from 48.9) went down. Business Confidence in Canada averaged 57.03 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 53.50 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 55.80 in 12 months time. In the long-term, the Canada Business Confidence is projected to trend around 54.00 Index Points in 2020, according to our econometric models.