Investing.com - Canada's Ivey purchasing managers’ index expanded at the slowest pace in almost four years in January, fuelling 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 45.4 last month from a reading of 55.4 in December. Analysts had expected the index to decline to 54.0 in January.
A figure above 50.0 indicates industry expansion, below indicates contraction.
USD/CAD was trading at 1.2526 from around 1.2506 ahead of the release of the data.