OTTAWA, Sept 4 (Reuters) – Canadian economic activity expanded at a faster pace in August as prices, inventories and employment rose, Ivey Purchasing Managers Index (PMI) data showed on Friday.
• The seasonally adjusted index increased to 64.3 in August from 55.1 in July, highest since May 2022.
• The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada. A reading above 50 indicates an increase in activity.
• The gauge of employment rose to an adjusted 55.0 from 52.2 in July.
• The adjusted prices index shot up to 80.4, up from 75.5.
• The unadjusted PMI rose to 62.7 from 54.1.
(Reporting by Promit MukherjeeEditing by Nick Zieminski)
