Investing.com - Canada's Ivey purchasing managers’ index expanded at a slower rate than expected in February, growing at the weakest pace in three months, industry data showed on Wednesday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index fell to 51.1 in February from a reading of 58.9 in January.
Analysts had expected the index to decrease to 58.0 last month.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD gaining 0.53% to trade at 1.0319.
In a report, the Richard Ivey School of Business said its purchasing managers’ index fell to 51.1 in February from a reading of 58.9 in January.
Analysts had expected the index to decrease to 58.0 last month.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD gaining 0.53% to trade at 1.0319.