TORONTO (Reuters) – Canadian economic activity expanded in August as employment increased at a faster pace, Ivey Purchasing Managers Index (PMI) data showed on Wednesday.
The seasonally adjusted index rose to 60.9 in August from 49.6 in July. The July reading was the lowest since December 2021.
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 gauge of employment rose to an adjusted 66.3 from 61.4 in July, while the prices index fell to 64.4 from 73.8.
The unadjusted PMI rose to 57.1 from 53.2.
(Reporting by Fergal Smith)