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Canada Ivey Purchasing Managers Index Rises to 4-Month High

Canada’s Ivey purchasing managers’ index rose in July to the highest in four months, according to a statement on the University of Western Ontario business school’s website.

The index increased to 62.8 last month, the highest since March, from 49 in June. Readings of more than 50 indicate purchasing by governments and companies advanced. Economists surveyed by Bloomberg News forecast a reading of 52.0, the median of 13 estimates.

The Ivey employment index fell to 54.3 in July from 59.3 in June, while the inventory reading increased to 55.0 from 53.9.

The supplier deliveries index fell to 50.3 from 51.1, while the prices measure rose to 64.8 from 62.9.

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