Canada’s Ivey PMI reported at two-year high

Canada’s seasonally adjusted Ivey Purchasing Managers’ Index was reported at a reading of 63.0 in April, up from 57.5 in March.

The latest PMI result exceeded a consensus of analyst estimates of 58.1 and has also been the highest in two years.

The sub-index of prices was reported at its highest level since December, at 62.4, while improving from 57.9 in March.

Also, the sub-index of employment showed further improvement in April, being at 56.4 compared to 55.4 in March.

On the other hand, the gauges of inventories (52.8 down from 55.6 in March) and supplier deliveries (49.6 down from 52.1 in March) indicated deterioration.

The non-adjusted Purchasing Managers’ Index came in at 65.7 in April, up from 63.0 in March.

The Canadian Dollar was 0.33% weaker on the day against its US counterpart, with the USD/CAD currency pair last trading at 1.3711.