Investing.com - Canada's Ivey purchasing managers’ index expanded at the fastest pace in three months in July, easing concerns 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 54.1 last month from a reading of 46.9 in June. Analysts had expected the index to increase to 53.0 in July.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Following the release of the data, the Canadian dollar held on to modest losses against its U.S. counterpart, with USD/CAD rising 0.04% to trade at 1.0920.