Investing.com - Canada's Ivey purchasing managers’ index contracted for the first time in right months in July, industry data showed on Wednesday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index tumbled to 48.4 in July from a reading of 55.3 in June.
Analysts had expected the index to increase to 57.0 last month.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Following the release of the data, the Canadian dollar added to losses against its U.S. counterpart, with USD/CAD gaining 0.46% to trade at 1.0424.
In a report, the Richard Ivey School of Business said its purchasing managers’ index tumbled to 48.4 in July from a reading of 55.3 in June.
Analysts had expected the index to increase to 57.0 last month.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Following the release of the data, the Canadian dollar added to losses against its U.S. counterpart, with USD/CAD gaining 0.46% to trade at 1.0424.