What is the "Ivey Purchasing Managers Index"?

The Ivey Purchasing Managers Index (PMI) is an economic index that measures the month-to-month variation in economic activity as indicated by a panel of purchasing managers from across Canada and is prepared by the Ivey Business School. Using the end of the month data, it covers all sections of Canada's economy.
Findings indicate that the Ivey PMI provides predictive power for forecasting Canadian macroeconomic activity; read White Paper: The Predictive Value of the Ivey PMI for Monthly Canadian GDP for details.