Investing.com – Canada's Ivey purchasing managers’ index rose unexpectedly in March, increasing for the second consecutive month, industry data showed on Wednesday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index rose to 73.2 in March, after rising to 69.3 in February.
Analysts had expected the index to fall to 65.2 in March.
On the index, a figure above 50.0 indicates industry expansion, below indicates contraction.
According to the data, the Employment Index rose to 58.0 in March, after rising to 56.3 in February. The Prices Paid Index eased to 75.0 after hitting 77.4 in February.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.55% to hit a three-year low of 0.9584.
In a report, the Richard Ivey School of Business said its purchasing managers’ index rose to 73.2 in March, after rising to 69.3 in February.
Analysts had expected the index to fall to 65.2 in March.
On the index, a figure above 50.0 indicates industry expansion, below indicates contraction.
According to the data, the Employment Index rose to 58.0 in March, after rising to 56.3 in February. The Prices Paid Index eased to 75.0 after hitting 77.4 in February.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.55% to hit a three-year low of 0.9584.