The Ivey
Business School Purchasing Managers Index (PMI), measuring Canada’s economic
activity, fell by 4.0 points to 51.3 in February from an unrevised 55.3 in February. The latest reading indicated the
private sector’s activity expanded for the second straight month in March
albeit at a
slower pace than in the previous month.
The 50-point mark separates expansion from contraction.
Economists had anticipated
the indicator to drop to 53.2 in March.
According to the report, the employment index plunged by 5.5 points to 48.2,
indicating employment contracted last month. The deliveries gauge declined by 4.4 points to 43.2, implying shrinkage in
deliveries for the 12th month running. Meanwhile,
the inventories measure surged by 3.6 points to 53.0, returning into an expansion territory after a
one-month decrease. On
the price front, the prices indicator soared by 4.1 points to 75.6, suggesting
that prices increased markedly in March.