Canada's Ivey Purchasing Managers Index jumped to 64.3 in August, its highest reading since May 2022. Prices, inventories and employment all rose, according to data released on Friday.
Canadian economic activity expanded at a faster pace in August as prices, inventories and employment all climbed, Ivey Purchasing Managers Index data showed. The seasonally adjusted index rose to 64.3 in August from 55.1 in July, its highest level since May 2022.
The Ivey PMI tracks the month-to-month variation in Canadian economic activity as reported by a panel of purchasing managers across the country. A reading above 50 indicates an increase in activity.
Employment strengthened alongside the headline gauge. The employment sub-index climbed to an adjusted 55.0 from 52.2 in July. The adjusted prices index also shot up to 80.4 from 75.5 a month earlier.
The unadjusted PMI told the same story, rising to 62.7 from 54.1.
Source: Reuters
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