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Canadian Ivey PMI falls to 5-month low of 48.2 in May

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Investing.com -

Investing.com - Canada's Ivey purchasing managers' index contracted unexpectedly in May, fuelling concerns over the country's economic outlook, industry data showed on Thursday.

In a report, the Richard Ivey School of Business said its purchasing managers' index fell to 48.2 last month from a reading of 54.1 in April. Analysts had expected the index to increase to 56.0 in May.

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

Following the release of the data, the Canadian dollar added to losses against its U.S. counterpart, with USD/CAD rising 0.11% to trade at 1.0952, compared to 1.0945 ahead 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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