The Ivey Business School Purchasing Managers Index (PMI), measuring Canada’s economic activity, rose to 70.4 in September from 66.0 in August. This was the highest reading since June.

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

Within sub-indexes, the prices index increased to 79.1 in September from 69.7 in the previous month, while the supplier deliveries gauge increased to 36.5 from 34.2 but still remained in contraction territory. At the same time, the employment measure fell to 63.7 from 66.9, and the inventories indicator dropped to 57.7 from 60.3.