Canada’s Ivey PMI shows activity growing at faster pace in November

FILE PHOTO: People shop at the Eaton Centre in Toronto, Ontario, Canada November 22, 2022. REUTERS/Carlos Osorio

TORONTO (Reuters) — Canadian economic activity expanded at a faster pace in November and a measure of price pressures cooled, Ivey Purchasing Managers Index (PMI) data showed on Tuesday.

The seasonally adjusted index rose to 51.4 in November from 50.1 in October.

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 dipped to an adjusted 54.3 from 54.6 in October, while the prices index was at 63.5, down from 69.8.

The unadjusted PMI edged up to 51.5 from 51.4.

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