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Canadian Ivey PMI tumbles to 51.1 in February

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Investing.com - Canada's Ivey purchasing managers' index expanded at a slower rate than expected in February, growing at the weakest pace in three months, industry data showed on Wednesday.

In a report, the Richard Ivey School of Business said its purchasing managers' index fell to 51.1 in February from a reading of 58.9 in January.

Analysts had expected the index to decrease to 58.0 last month.

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

Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD gaining 0.53% to trade at 1.0319.

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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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