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(CEP News) Ottawa - Canada's Ivey Purchasing Managers' Index rocketed up to 69.6 reading in June from the May figure of 62.5, confounding economists' expectations of a pullback to 62.3.
The corresponding figure for June 2007 was 67.4 and was at 62.2 in June 2006. The Ivey employment index for June stood at 58.2, down from May's showing of 59.3. The index's inventories measure was at 61.9, while supplier deliveries were 41.7 and prices were 84.1. The May reading for inventories was 55.2, deliveries came in at 45.7 and prices came in at 82.9. The Ivey PMI is not adjusted for seasonality or inflation and shows responses to one question: "Were your purchases last month in dollars higher, the same, or lower than the previous month?" A figure above 50 shows an increase while below 50 shows a decrease. By Sean McKibbon,
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, edited by Stephen Huebl,
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