Forexpros – Canada’s Ivey purchasing managers’ index rose more-than-expected in November, industry data showed on Tuesday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index rose by 5.5 points to 59.9 in November from a reading of 54.4 in October.
Analysts had expected the index to rise by 0.6 points to 55.0 in November.
A figure above 50.0 indicates industry expansion, below indicates contraction.
According to the data, the Employment Index declined to 49.4 in November from 51.4 in October. The Prices Paid Index rose to 68.1 from 63.9, while the Deliveries Index advanced to 44.8 from 43.3 in the previous month.
Following the release of the data, the Canadian dollar added to gains against its U.S. counterpart, with USD/CAD falling 0.35% to trade at 1.0128.
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