The Ivey Business School Purchasing Managers Index (PMI), measuring Canada’s economic activity, climbed to 66.0 in August from 56.4 in July.

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

Within sub-indexes, the employment measure rose to 66.9 in August from 62.1 in the previous month, while the supplier deliveries gauge increased to 34.2 from 31.1. At the same time, the inventories indicator edged down to 60.3 from 60.4, while the prices index declined to 69.7 from 77.1, its lowest level since December 2020.