Canada's Ivey PMI shows activity expanding at a slower pace in April
- The seasonally adjusted index fell to 60.6 from 72.9 in March. The March reading was the highest since March 2011 and the second highest since the PMI was launched in 2000.
- Economic restrictions were tightened in some Canadian provinces in April to tackle a third wave of the coronavirus pandemic.
TORONTO: Canadian economic activity expanded in April but the pace slowed from a 10-year high the previous month, Ivey Purchasing Managers Index (PMI) data showed on Friday.
The seasonally adjusted index fell to 60.6 from 72.9 in March. The March reading was the highest since March 2011 and the second highest since the PMI was launched in 2000.
Economic restrictions were tightened in some Canadian provinces in April to tackle a third wave of the coronavirus pandemic.
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 fell to an adjusted 58.0 from 62.7 in March, while the supplier deliveries index was at 37.8, down from 39.6, indicating companies are having greater difficulty meeting increased demand.
The unadjusted PMI fell to 59.9 from 67.3.
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