Canadian Ivey Managers Purchasing Index – What is the Canadian Ivey Managers Purchasing Index in economy?

What is the Canadian Ivey Managers Purchasing Index?
What is Canadian Ivey Purchasing Managers Index: It is also known as CIPM. It measures changes in the dollars every month which is showed by a group of purchasing mangers from different parts of Canada. This index is sponsored by both Purchasing Association of Canada and Richard School of Business. A reading which crosses 50 indicates growth and the rising tendency has a positive result on the currency of the nation. Nearly 175 people take part in the survey that has been chosen geographically for matching the Canadian economy. The index consists of both private and public sectors. The members of the index panel shows whether the activities of their organization is higher than them or is similar or is less than the earlier month across these different categories named as supplier deliveries, employment, purchases, inventories and costs. Forex traders notice these surveys in a close manner as purchasing managers have an access to the data regarding the potential performance of the company in the near future, which in turn plays the role of an indicator showing the overall performance.