Investing.com – Canada's Ivey purchasing managers’ index fell significantly more-than-expected in April, industry data showed on Thursday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index tumbled to 57.7 in April, compared to March’s reading of 73.2.
Analysts had expected the index to fall to 65.1 in April.
On the index, a figure above 50.0 indicates industry expansion, below indicates contraction.
According to the data, the Employment Index fell to 55.0 in April, after rising to 58.0 in March. The Prices Paid Index eased to 68.8 after falling to 75.0 in March.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.52% to hit 0.9643.
In a report, the Richard Ivey School of Business said its purchasing managers’ index tumbled to 57.7 in April, compared to March’s reading of 73.2.
Analysts had expected the index to fall to 65.1 in April.
On the index, a figure above 50.0 indicates industry expansion, below indicates contraction.
According to the data, the Employment Index fell to 55.0 in April, after rising to 58.0 in March. The Prices Paid Index eased to 68.8 after falling to 75.0 in March.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.52% to hit 0.9643.