Key insights
- Canada's Ivey PMI rose to a seven-month high in April, signaling faster economic activity driven by increased employment and prices. While primarily a Canadian indicator, it suggests potential spillover effects into the US economy through trade and supply chain linkages, albeit with a limited direct impact on US equities.
TORONTO, May 6 (Reuters) - Canadian economic activity expanded in April at the fastest pace in seven months as measures of employment and prices accelerated, Ivey Purchasing Managers Index (PMI) data showed on Wednesday.
The seasonally adjusted index rose to 57.7 last month from 49.7 in March, marking its highest level since September.
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 54.7 from 51.1 in March, while the prices index was at 76.6, up from 75.7.
The unadjusted PMI rose to 61.5 from 56.5.