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Economic news
05.08.2022

Canada's private sector activity decreases in July - Ivey

The Ivey Business School Purchasing Managers Index (PMI), measuring Canada’s economic activity, tumbled 12.6 points to 49.6 in July, pointing to a contraction in the private sector. This was the lowest reading so far this year.

A reading above 50 signals expansion, while a reading below 50 indicates contraction.                    

The headline indicator’s sub-indexes recorded declines last month. The employment index dropped 6.5 points m-o-m to 61.4, its lowest level in five months, while the inventories indicator decreased 5.2 points to 61.5, its lowest level in six months, the prices measure fell 4.1 points to 73.8, its lowest level since August 2021 (69.7), and the deliveries gauge went down 3.2 points to 39.4, remaining in contraction territory for the 23rd straight month.

 

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