Financial Insights That Matter
TORONTO (Reuters) – Canadian economic activity contracted for the first time in 13 months in August as employment growth slowed and price pressures heated up, Ivey Purchasing Managers Index data showed on Friday.
The seasonally adjusted index fell to 48.2 from 57.6 in July. It was the first time since July 2023 that the index was below the 50 threshold, indicating a decrease in activity.
The Ivey PMI measures the month-to-month variation in economic activity as indicated by a panel of purchasing managers from across Canada.
The gauge of employment fell to an adjusted 54.7 from 56.1 in July, while the prices index was at 63.4, up from 59.2 and its highest level since May.
The unadjusted PMI fell to 50.3, its lowest level this year, from 55.3.
(Reporting by Fergal Smith; editing by Jonathan Oatis)
#1a73e8;">Boost Your Financial Knowledge and Achieve Stability
Discover a growing online community dedicated to delivering financial news, tips, and strategies designed to help you manage money effectively, save smarter, and grow your investments with confidence.
#1a73e8;">Top Financial Tips for Saving and Investing
- Personal Finance Management: Master the art of budgeting, expense tracking, and building a strong financial foundation.
- Investment Opportunities: Stay updated on market trends, learn about stocks, and explore secure ways to grow your wealth.
- Expert Money-Saving Advice: Access proven techniques to reduce expenses and maximize your financial potential.