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Canada's Ivey PMI falls to 10-month low in May

Kitco Media
By Reuters
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Updated:
Reuters
Canada's Ivey PMI falls to 10-month low in May teaser image

TORONTO, June 6 (Reuters) - Canadian economic activity expanded in May at the slowest pace in 10 months as a measure of inflation picked up, Ivey Purchasing Managers Index (PMI) data showed on Thursday.

The seasonally adjusted index fell to 52.0 from 63.0 in April, posting its lowest level since July. A reading above 50 indicates an increase in activity.

The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.

The gauge of employment was unchanged from April at 56.4, while the prices index rose to 63.5, its highest level since December, from 62.4.
The unadjusted PMI was at 59.1, down from from 65.7 in April.

Reporting by Fergal Smith

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