Canada: Ivey PMI rose sharply in July

The research results presented by the Association of purchasing managers in Canada and the Richard Ivey School of Business, have shown that the index of business activity incrased more than the experts' assessments.According to the report, the July business activity index rose to 57, compared with 51.7 in the previous month. Analysts had expected a value of 50.9 points.Recall, the indicator shows the level of business activity of the industrial sector. More than 150 managers from different regions and sectors are invited to assess the level of purchases compared to the previous month (above, below or at the same level). A reading above 50 indicates an increase in purchases, and a value below 50 indicates a decrease in volume.

In addition, more detailed information is shown:

- employment sub-index rose to 59.5 in June from 52.5, indicating that the activity was higher than in the previous month;

- inventories rose to 55.4 from 55.1, an increase of stocks compared to the previous month;

- prices fell to 57.5 from 59.7.

- delivery times fell to 44.7 from 47.3, indicating that the delivery times were longer than the previous month.

All figures are based on seasonally adjusted.