Canada’s Ivey Purchasing Managers Index drops in May on seasonally adjusted basis

Canada’s Ivey Purchasing Managers Index on a seasonally adjusted basis dropped to 53.8 in May from April’s 62.4. It came in below consensus expectations of 62. The corresponding figure for May 2016 was 49.4 and for May 2015 was 62.3. On a seasonally-unadjusted basis, the index rose to 62.6 in May from 58.5.

The seasonally adjusted employment index for May came in at 50.4, while seasonally adjusted inventories index stood at 56.5. Supplier Deliveries, on a seasonally adjusted basis came in at 44.6, whereas prices were at 51.3.

The seasonally unadjusted index for employment stood at 54.5, while for inventories it came in at 57.6. The index for supplier deliveries and prices came in at 45.6 and 59.7, respectively.

By the end of April, the seasonally adjusted Ivey Purchasing Managers Index had come in at 62.4, while the corresponding figure for April 2016 was 53.1 and for April 2015 was 58.2. The employment index for April was at 63.7, while for inventories the index stood at 46.5. Supplier deliveries and prices indices came in at 49.1 and 70.9, respectively.

At 17:00 GMT the FxWirePro's Hourly Strength Index of Canadian Dollar was neutral at -2.34722, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -38.3129. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex