TORONTO (Reuters) - The pace of purchasing activity in Canada picked up in April as a measure of supplier deliveries rose, according to Ivey Purchasing Managers Index (PMI) data released on Tuesday.
The seasonally adjusted index climbed to 55.9 from 54.3 in March, surpassing analysts’ expectations for 53.0. The gauge of supplier deliveries rose to 48.7 from 46.2 in March.
The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada. A reading above 50 indicates an increase in the pace of activity.
The unadjusted index fell to 56.7 from 57.6.
Reporting by Fergal Smith; Editing by Bernadette Baum