Canada’s Ivey PMI Rises in January but Shows Contraction

Economic activity in Canada continued to contract during January for the second consecutive month, data showed on Friday.

Although the seasonally adjusted Ivey Purchasing Managers Index (PMI) increased to a reading of 48.4 last month, from 46.7 in December, it remained below the 50 mark that indicates expansion.

The Ivey Employment Index fell to an adjusted 41.5 from 45.8 in December, reaching its lowest level since April 2020.

Meanwhile, the Ivey Prices Index rose to 82.8 last month from 66.9 in December.

The inventories index surged to 56.7 from 43.8, while the supplier deliveries index increased to 34.7 from 30.1 in the previous month.