Investing.com - Canada's Ivey purchasing managers’ index rose more-than-expected in October, hitting a five-month high, industry data showed on Wednesday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index surged to 62.8 in October from a reading of 51.9 in September.
Analysts had expected the index to decrease to 51.0 last month.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Following the release of the data, the Canadian dollar added to gains against its U.S. counterpart, with USD/CAD shedding 0.27% to trade at 1.0426.
In a report, the Richard Ivey School of Business said its purchasing managers’ index surged to 62.8 in October from a reading of 51.9 in September.
Analysts had expected the index to decrease to 51.0 last month.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Following the release of the data, the Canadian dollar added to gains against its U.S. counterpart, with USD/CAD shedding 0.27% to trade at 1.0426.