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Canada’s Ivey Purchasing Managers Index rose to 51.9 in December 2025 from 48.4 in November, beating market expectations of 49.5 and signaling a return to expansion after a month in contractionary territory. The Employment Index climbed to 53 from 48, pointing to improved labor conditions. In contrast, the Inventories Index fell to 45.8 from 50, while the Supplier Deliveries Index eased to 47.7 from 49.8, suggesting slightly faster deliveries. Meanwhile, price pressures moderated, with the Prices Index declining to 63.2 from 66.1.