Key facts
- Canada's Ivey PMI rose to 58.2 in May, up from 57.7 in April.
- The May reading is the highest since September.
- The adjusted prices index increased to 78.0 from 76.6.
- The adjusted employment gauge dipped to 54.3 from 54.7.
The Canadian Ivey Purchasing Managers Index (PMI) showed that economic activity expanded at a faster pace in May, with the seasonally adjusted index rising to 58.2 from 57.7 in April. This marks the highest level recorded since September. The data also indicated that inflation pressures heated up, as the adjusted prices index reached 78.0, up from 76.6 in the previous month. The gauge for employment, however, dipped to an adjusted 54.3 from 54.7 in April. The unadjusted PMI figure edged lower to 61.3 in May from 61.5 in April.