The Ivey Business School Purchasing Managers Index (PMI), measuring Canada’s economic activity, climbed to 60.0 in November from an unrevised 48.2 in October. That was the highest reading since August.

Economists had expected the gauge to hit 53.8.

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

Within sub-indexes, the inventories indicator surged to 59.1 in November from 45.6 in the prior month, while the supplier deliveries gauge increased to 52.7 from 45.1 and the employment measure rose to 50.3 from 47.2. At the same time, the prices index decreased to 54.9 in October from 57.0 in October.