Canadian Economic Activity Surges to One-Year High in March: Ivey PMI

Canada PMI: According to the latest data from the Ivey Purchasing Managers Index (PMI), Canadian economic activity witnessed its most significant expansion in a year during March, propelled by a notable uptick in employment measures.

The seasonally adjusted index soared to 57.5, marking a substantial increase from February's 53.9 and reaching its highest level since March 2023. The Ivey PMI, which tracks month-to-month variations in economic activity based on input from purchasing managers across Canada, signifies growth when above 50.

In particular, the employment gauge showed robust improvement, reaching an adjusted figure of 55.4, up from February's 50.8. Meanwhile, the prices paid index slightly decreased to 57.9, down from 60.4 in the previous month.

The unadjusted PMI, representing raw data without seasonal adjustments, surged to 63.0 from February's 56.3, underscoring the robust momentum across various sectors of the Canadian economy.

With Reuter's Inputs