Canadas Ivey PMI rebounds to 8-month high as employment rises

Canada's Ivey PMI rebounds to 8-month high as employment rises

TORONTO (Reuters) – Canadian economic activity expanded in January at the sharpest pace in eight months as employment climbed and supplier deliveries speeded up, Ivey Purchasing Managers Index (PMI) data showed on Monday.

The seasonally adjusted index rose to 60.1, its highest since May. The historical data was revised to show that the index was at 49.3 in December, not 33.4.

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 60.5 from 59.5 in December, while the supplier deliveries index was 52.3, up from 49.1.

The unadjusted PMI rose to 54.7 from 40.6.

(Reporting by Fergal Smith)

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