Canada’s Ivey PMI expands to more than four-year high in August

OTTAWA, Sept 4 (Reuters) – Canadian economic activity expanded at a faster ​pace in August ‌as prices, inventories and employment rose, Ivey Purchasing Managers Index (PMI) data showed ‌on ​Friday.

• The ⁠seasonally adjusted index ⁠increased to 64.3 in August from 55.1 in July, highest since May 2022.

• ​The Ivey PMI measures the month ⁠to month variation ⁠in economic activity ​as indicated by a ​panel of purchasing managers ‌from across Canada. A reading above 50 indicates an increase in ⁠activity.

• The gauge of employment rose to an adjusted ⁠55.0 ‌from 52.2 in ⁠July.

• The adjusted ​prices ‌index shot up ​to 80.4, ⁠up from 75.5.

• The unadjusted PMI rose to 62.7 from 54.1.

(Reporting by Promit MukherjeeEditing by Nick ​Zieminski)