The Ivey Purchasing Managers Index (IPMI) declined for the second consecutive month in July.
The IPMI ended the month at 54, down from 58.9 at the end of June. This followed a growth arc that peaked above 60 in May, after reaching 58.7 in April, 57.8 in March and 51.9 in February.
The corresponding figure for July 2009 was 51.8 and for July 2008 was 65.5.
The monthly benchmark—which is produced by the Richard Ivey School of Business and the Purchasing Management Association of Canada (PMAC)—tracks month-to-month changes in dollars spent by purchasers.
It is based on data provided by a panel of 175 procurement managers from across Canada.
On the index, a score above 50 indicates an increase, while a score below 50 shows a decrease.
The IPMI is not adjusted for seasonality or inflation and shows responses to one question: “Were your purchases last month in dollars higher, the same, or lower than the previous month?”
With regards to the IPMI’s other areas, the numbers were down across the board.
The prices index for July stood at 56, down from 58.3 in June.
The employment index for July was at 52, down from 53.6.
The inventories index for July stood at 53.2, a slight drop from 53.9 a month earlier.
Finally, the supplier deliveries index stood at 39 in July, down from 43.5.