OTTAWA, Sept 4 (Reuters) – Canadian economic activity expanded at a faster pace in August as prices, inventories and employment rose, Ivey Purchasing Managers Index (PMI) data showed on Friday.
The seasonally adjusted index increased to 64.3 in August from 55.1 in July, highest since May 2022.
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 gauge of employment rose to an adjusted 55.0 from 52.2 in July.
The adjusted prices index shot up to 80.4, up from 75.5.
The unadjusted PMI rose to 62.7 from 54.1.
Reporting by Promit Mukherjee Editing by Nick Zieminski
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