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Canadian Ivey PMI drops to 47.9 in March

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Investing.com -

Investing.com - Canada's Ivey purchasing managers' index contracted at a faster rate than expected in March, fuelling concerns over the country's economic outlook, industry data showed on Monday.

In a report, the Richard Ivey School of Business said its purchasing managers' index fell to 47.9 last month from a reading of 49.7 in February. Analysts had expected the index to inch up to 51.1 in March.

A figure above 50.0 indicates industry expansion, below indicates contraction.

USD/CAD was trading at 1.2460 from around 1.2466 ahead of the release of the data.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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