The Ivey Business School Purchasing Managers Index (PMI), measuring Canada's economic activity, climbed to 57.3 in January 2020 from an unrevised 51.9 in December 2019.

Economists had expected the gauge to hit 53.3.

A figure above 50 shows an increase while below 50 shows a decrease.

Within sub-indexes, the supplier deliveries gauge increased to 52.7 in January from 49.3 in December, while the prices index climbed to 60.7 from 59.5. At the same time, and the employment measure edged down to 51.3 in January from 51.4 in the previous month, and the inventories indicator dropped to 50.4 from 52.5.