The Ivey Business School Purchasing Managers Index (PMI), measuring Canada’s economic activity, increased to 58.2 in June from 39.1 in May. That was the highest level since November 2019.

A reading above 50 signals expansion, while a reading below 50 indicates contraction.

Within sub-indexes, the employment measure climbed to 52.8 in May from 41.9 in the previous month, while the inventories indicator jumped to 61.8 from 46.8, the supplier deliveries gauge surged to 53.4 from 37.7 and the prices index increased to 56.4 from 54.9.