The Ivey
Business School Purchasing Managers Index (PMI), measuring Canada’s economic
activity, increased by 0.3 point to 52.3 in November from an unrevised 52.0 in October. The
latest reading indicated the private sector’s activity grew for the third
straight month in November and at a marginally
quicker pace than in the previous
month.
The 50-point mark separates expansion from contraction.
Economists had forecast
the indicator to rise to 53.1 in November.
According to the report, the employment index surged by 3.3 points to 54.6,
indicating continuing growth in employment, the pace of which was the fastest in three
months. Meanwhile,
the deliveries gauge dropped by 3.7 points to 43.7, indicating a contraction in deliveries for the eighth straight month. The inventories
measure slipped by 0.3 point to 50.1, indicating inventories were little
changed in November. On the price
front, the prices indicator soared by 4.4 points to 62.9, indicating
that prices continued to increase last month and recorded the strongest gain since August (63.4).