Data released today, Friday, in Canada showed that the Purchasing Managers' Index (PMI) issued by Ivey recorded a positive reading for the second consecutive month, as the index rose to 60.6 points during last February, higher than market expectations that indicated an increase to 54.2 points, while the previous reading of the index had recorded about 50.7 points.

It is worth mentioning that the PMI issued by Ivey Business School measures the level of purchasing managers' activity in Canada. This survey is conducted on about 175 purchasing managers, who assess business conditions including: employment, production, new orders, prices, and inventories.

If the index reading rises above the 50.0-point level, this indicates growth in industrial activity; if it falls below, it indicates that industrial activity is contracting. This index is a joint project between the Canadian Purchasing Managers Association and the Richard Ivey School of Business.