Canada’s Ivey PMI shows activity expanding at fastest pace in three months

Canadian economic activity expanded at a faster pace in June as measures of employment and prices rose, Ivey Purchasing Managers Index (PMI) data showed on Wednesday.

The seasonally adjusted PMI rose to 71.9 from 64.7 in May. That was the highest level for the index since March, when it notched a 10-year peak of 72.9.

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. A reading above 50 indicates an increase in activity.

The gauge of employment rose to an adjusted 69.6 from 67.0 in May, while the prices index rose to 79.4 from 78.6.

The unadjusted PMI rose to 67.7 from 59.8.

(Reporting by Fergal Smith; Editing by Sandra Maler)