The Ivey Business School Purchasing Managers Index (PMI), measuring Canada’s economic activity, increased to 39.1 in May from a record-low 22.8 in April.

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

Within sub-indexes, the employment measure climbed to 41.9 in May from 22.9 in the previous month, while the inventories indicator jumped to 46.8 from 34.5, the supplier deliveries gauge surged to 37.7 from 18.2 and the prices index increased to 54.9 from 51.2.