Canada’s PMI rose to annual highs amid rising employment
2023.02.06 13:58
Canada’s PMI rose to annual highs amid rising employment
By Ray Johnson
Budrigannews.com – According to Ivey Purchasing Managers Index (PMI) data released on Monday, employment increased and supplier deliveries sped up in January, resulting in the fastest expansion of Canadian economic activity in eight months.
The historical data was revised to show that the index was at 49.3 in December, rather than 33.4. The seasonally adjusted index increased to 60.1, its highest level since May.
A panel of purchasing managers from across Canada used the Ivey PMI to determine the variation in economic activity from month to month. An increase in activity is indicated by a reading above 50.
The supplier deliveries index was 52.3, up from 49.1, and the employment gauge was adjusted to 60.5 from 59.5 in December.
From 40.6, the unadjusted PMI increased to 54.7.
