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Free AccessCanada July Ivey PMI Down to 60.0 Despite Higher Price Index
By Yali N'Diaye
OTTAWA (MNI) - The Canadian Ivey Purchasing Managers Index edged down to
60.0 in July from 61.6 in June, but was still indicative of economic expansion,
data from the Richard Ivey School of Business showed Friday.
The decline occurred despite an 11.8-point gain in the price index to 69.2,
suggesting the lower PMI was related to weaker activity rather than lower
prices.
The Canadian Ivey PMI, unlike that produced by the U.S. Institute for
Supply Management, is based on end-of-month data and covers the complete
Canadian economy, including the public and private sectors. It reflects the
value change of firms' purchases.
The employment index, however, edged up to 52.6 from 52.0, with 27.1% of
respondents reporting higher employment against 22.4% reporting lower
employment.
Statistics Canada said Friday that employment was up 10,900 in July, with
the unemployment rate down to 6.3%, its lowest level since October 2008,
although this was largely due to a lower participation rate.
Elsewhere, the Ivey PMI inventories index declined to 55.8 in July from
60.7 in June, and the supplier deliveries index decreased to 46.2 from 46.9.
On an unadjusted basis fell to 52.9 in July from 63.9 in June, reaching its
lowest level since January.
--MNI Ottawa Bureau; +1 613 869-0916; email: yali.ndiaye@marketnews.com
[TOPICS: MACDS$,M$C$$$]
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.