TORONTO (Reuters) – Canadian economic activity expanded at its fastest pace in seven months in November, Ivey Purchasing Managers Index (PMI) data showed on Wednesday.
The seasonally adjusted index rose to 54.7 in November from 53.4 in October, its highest level since April.
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 55.3 from 54.7 in October, while the prices index was at 62.1, up from 60.0.
The unadjusted PMI rose to 53.2 from 51.9.
(Reporting by Fergal Smith, Editing by Franklin Paul)
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