The Ivey Business School Purchasing Managers Index (PMI), measuring
Canada’s economic activity, increased 6.6 points to 58.2 in March from an unrevised 51.6 in February, pointing to a growth in the private sector’s activity at a quicker pace than in the previous month.
A reading above 50 signals
expansion, while a reading below 50 indicates contraction.
Economists had forecast the indicator to come in at 56.1 in March.
The headline indicator’s sub-indexes demonstrated mixed
performance last month. The employment indicator increased by 0.9 points to 60.3, and
the inventories gauge rose by 0.8 points to 54.5 (the highest level since
October 2022). At the same time, the deliveries index fell by 1.7 points to 54.1,
and the prices measure plunged by 3.3 points to 62.0 (the lowest level since September