Canadian economic activity expanded at a faster pace in January as supplier deliveries climbed, according to Ivey Purchasing Managers Index (PMI) data released on Friday.
The seasonally adjusted index rose to 57.3 from 51.9 in December.
The Ivey PMI measures the month-to-month variation in economic activity as indicated by a panel of purchasing managers across Canada. A reading above 50 indicates an increase in the pace of activity.
The gauge of supplier deliveries rose to an adjusted 52.7 from 49.3 in December, while the prices index was up to 60.7 from 59.5.
The unadjusted PMI rose to 51.1 from 43.6.
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