Canada's Ivey PMI shows activity contracting in April
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FILE PHOTO: People shop at the Eaton Centre in Toronto, Ontario, Canada November 22, 2022. REUTERS/Carlos Osorio/File photo
TORONTO -Canadian economic activity contracted in April as employment declined for a second straight month, Ivey Purchasing Managers Index (PMI) data showed on Tuesday.
The seasonally adjusted index fell to 47.9 last month from 51.3 in March, posting its lowest level since January.
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 below 50 indicates a decrease in activity.
The gauge of employment dipped to an adjusted 48.0 from 48.2 in March, while the prices paid index was at 70.0, down from 75.6.
The unadjusted PMI fell to 52.3 from 55.6.
(Reporting by Fergal Smith; Editing by Chizu Nomiyama)
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