FX.co ★ Canada’s Ivey PMI Cools in July, Signaling Slower Business Activity Growth

Canada’s Ivey Purchasing Managers Index (PMI) non-seasonally adjusted eased in July 2026, pointing to a moderation in the pace of business activity. The index slipped to 54.1 in July from 59.7 in June 2026, according to data updated on 7 August 2026.

Although the reading above 50 still indicates expansion, the drop of 5.6 points suggests that growth in purchasing activity and business conditions has become less robust compared with the previous month. The June figure of 59.7 had signaled a much stronger expansionary environment, making July’s deceleration a notable shift in momentum.

Investors and analysts will be watching subsequent releases closely to gauge whether July’s weaker reading marks the start of a broader cooling trend in Canadian business activity or a temporary pause following strong growth earlier in the summer.