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Canada’s purchasing activity expanding for first time in 4 months, Ivey PMI shows
Canadian purchasing activity expanded in June for the first time in four months, according to Ivey Purchasing Managers Index (PMI) data released on Tuesday, providing another sign of economic recovery from the coronavirus crisis. The seasonally adjusted PMI rose to 58.2 from 39.1 in May. It was the first time since February that the index was above the 50 threshold, indicating an increase in the pace of activity. In April, when efforts to contain the coronavirus crisis halted business activity across the country, the PMI hit a record low of 22.8. The PMI measures the month to month variation in economic activity as ... (full story)