Canada's Ivey PMI rises to 5-month high in February
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View of the downtown city skyline of Edmonton, Alberta, Canada, October 6, 2021. Picture taken October 6, 2021. REUTERS/Todd Korol
TORONTO, March 6 (Reuters) - Canadian economic activity expanded at a faster pace in February as inventories climbed, Ivey Purchasing Managers Index (PMI) data showed on Friday.
The seasonally adjusted index rose to 56.6 last month from 50.9 in January, posting its highest level since September.
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 Inventories Index rose to an adjusted 57.2 from 50.9 in January, while the employment measure was at 49.4, down from 51.1.
The unadjusted PMI rose to 56.3 from 47.0.
(Reporting by Fergal Smith; Editing by Chizu Nomiyama)
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