TORONTO, May 6 (Reuters) - Purchasing activity in Canada rose more than expected in April, helped by gains in inventories, according to Ivey Purchasing Managers Index data released on Wednesday.
The seasonally adjusted index rose to 58.2 from 47.9 last month. The index’s level above 50 indicates an increase in purchases.
Analysts surveyed by Reuters had expected a reading of 49.2.
The unadjusted index was 55.7, compared with 56 a month earlier.
Reporting by Jeffrey Hodgson; Editing by Chizu Nomiyama