Investing.com - Canada's Ivey purchasing managers’ index contracted at a slower rate than expected in February, 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 49.7 last month from a reading of 45.4 in January. Analysts had expected the index to inch up to 46.2 in February.
A figure above 50.0 indicates industry expansion, below indicates contraction.
USD/CAD was trading at 1.2453 from around 1.2465 ahead of the release of the data.