Investing.com - Canada's Ivey purchasing managers’ index expanded at a faster rate than expected in December, easing concerns over the country’s economic outlook, industry data showed on Wednesday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index fell to 55.4 last month from a reading of 56.9 in November. Analysts had expected the index to decline to 52.3 in December.
A figure above 50.0 indicates industry expansion, below indicates contraction.
USD/CAD was trading at 1.1836 from around 1.1840 ahead of the release of the data.