Investing.com - Canada's Ivey purchasing managers’ index expanded more-than-expected in January, rising at the fastest pace in four months, industry data showed on Wednesday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index rose to 58.9 in January from a reading of 52.8 in December.
Analysts had expected the index to increase to 54.0 last month.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD gaining 0.13% to trade at 0.9969.
In a report, the Richard Ivey School of Business said its purchasing managers’ index rose to 58.9 in January from a reading of 52.8 in December.
Analysts had expected the index to increase to 54.0 last month.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD gaining 0.13% to trade at 0.9969.