Canada’s Ivey PMI falls to 4-month low in February
Recently manufactured vehicles are parked awaiting shipment near Ford’s Oakville Assembly Plant in Oakville, Ontario, Canada April 11, 2023. REUTERS/Carlos Osorio/File Photo
TORONTO (Reuters) – Canadian economic activity expanded at a slower pace in February as a measure of employment declined, Ivey Purchasing Managers Index (PMI) data showed on Wednesday.
The seasonally adjusted index fell to 53.9 from 56.5 in January, posting its lowest level since October
The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada. A reading above 50 indicates an increase in activity.
The employment index fell to an adjusted 50.8 from 57.2 in January, while the prices index was at 60.4, down from 62.2.
The unadjusted PMI rose to 56.3 from 54.4.
