Canada's Ivey Purchasing Managers' Index (PMI) continued to display economic growth in February, as indicated by the latest data released on March 6, 2024. The seasonally adjusted index reached 56.3 in February, showing an increase from the previous month when it stood at 54.4 in January 2024.
The Ivey PMI is a key indicator of the economic health of the Canadian manufacturing sector, with a reading above 50 indicating expansion. The rise in the index signifies ongoing growth and positive sentiment among purchasing managers in the country. The consistent increase in the PMI reflects a robust outlook for the Canadian economy, suggesting potential opportunities for businesses and investors alike as the year progresses.
