Investing.com - Canada's Ivey purchasing managers’ index rose at the fastest rate in 19 months in May, fuelling optimism over the country’s economic outlook, industry data showed on Thursday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index rose to 62.3 last month from a reading of 58.2 in April. Analysts had expected the index to fall to 55.5 in May.
A figure above 50.0 indicates industry expansion, below indicates contraction.
USD/CAD was trading at 1.2468 from around 1.2490 ahead of the release of the data.