The data released in Canada a short while ago showed that the Ivey Purchasing Managers’ Index recorded about 62.5 points in June, which is a positive reading and better than market expectations that anticipated the index would register around 53.0 points.

The previous reading of the Purchasing Managers’ Index was around 52.0 points in May.

It is worth noting that the PMI Purchasing Managers' Index issued by Ivey College measures the level of activity among purchasing managers in Canada. This survey is conducted with approximately 175 purchasing managers, who assess business conditions including employment, production, new orders, prices, and inventories.

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