Sunday, March 26, 2023

Canada’s Ivey PMI shows activity expanding at slowest pace in four months By Reuters


© Reuters. FILE PHOTO: People walk through the Rideau Centre in Ottawa,

TORONTO (Reuters) – Canadian economic activity expanded at a slower pace for the second straight month in September as a measure of supplier deliveries tumbled, Ivey Purchasing Managers Index (PMI) data showed on Wednesday.

The seasonally adjusted PMI fell to 54.3 from 67.8 in August, after notching in July its highest in more than two years at 68.5.

It was the lowest level for the index since May but remaining above the 50 threshold that 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 in the public and private sectors from across Canada.

The gauge of employment fell to an adjusted 53.8 from 56.1 in August, while the supplier deliveries index slumped to 40.7 from 51.3.

The unadjusted PMI fell to 61.1 from 64.6.

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