Canada’s Ivey PMI Soars in February

Economic activity in Canada expanded during February, after contracting in January, data showed on Friday.

The seasonally adjusted Ivey Purchasing Managers Index (PMI) surged last month to 60, from 48.4 in January, exceeding the 50 neutral mark.

The index also rose on an annual basis, compared with its level at 54.1 in February 2020.

The Ivey Employment Index increased to 54 from 41.5 in January, while the Inventories Index levelled up to 57.8 from 56.7.

The Supplier Deliveries Index registered 38.6, compared with 34.7 in the previous month.

Meanwhile, the Prices Index declined to 80.2 in February, from 82.8 in January.