The pace of purchasing activity in Canada accelerated at a far faster pace than expected in May, helped by an increase in employment and inventory levels, the Ivey Purchasing Managers Index showed on Thursday.
The seasonally adjusted index rose to 62.3 last month from 58.2 in April, surpassing analysts’ expectations for a moderation to 55.5. A reading above 50 indicates an increase in the pace of activity.
The unadjusted index rose to 65.2 from 55.7.
The measure of employment edged up to 51.8 from 50.3, while inventories climbed to 59.5 from 53.2.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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