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- Canada's purchasing activity growth accelerates more than forecast in July
Canada's purchasing activity growth accelerates more than forecast in July
The Ivey
Business School Purchasing Managers Index (PMI), measuring Canada’s economic
activity, rose to 54.2 in July from an unrevised 52.4 in June. That was the highest
reading since May.
Economists had
expected the gauge to hit 53.0.
A figure above
50 shows an increase while below 50 shows a decrease.
Within
sub-indexes, the employment measure climbed to 56.6 in July from 52.7 in June and the
prices indicator surged to 59.2 from 55.0, while the inventories index dropped
to 46.9 last month from 50.9 in the prior month and the supplier deliveries
gauge fell to 46.0 from 48.9.
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