The Ivey Business School Purchasing Managers Index (PMI), measuring Canada’s economic activity, increased to 68.5 in July from 58.2 in June. That was the highest level since April 2018.

Economists had expected the gauge to hit 57.5.

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

Within sub-indexes, the employment measure rose to 57.6 in July from 52.8 in the previous month and the prices index increased to 60.5 from 56.4. At the same time, the inventories indicator edged down to 61.7 in July from 61.8 June and the supplier deliveries gauge fell to 50.1 from 53.4