UPDATE 1-Canada’s Ivey index ticks higher in January

* Purchasing index at 50.8 in Jan vs 48.4 in Dec

* Canadian dollar weakens after index’s release
(Adds details)

TORONTO, Feb 4 (BestGrowthStock) – Purchasing activity in the
Canadian economy edged higher in January, according to the Ivey
Purchasing Managers Index released on Thursday.

The index, a joint project of the Purchasing Management
Association of Canada and the Richard Ivey School of Business,
rose to 50.8 in January from 48.4 in December, slightly below
market expectations for a rise to 52.5.

A reading of 50.0 indicates that activity remained flat
from the preceding month, while a higher reading indicates an
increase and a lower reading reflects a slowing or decrease.

The Canadian dollar weakened to a session low of C$1.0702
to the U.S. dollar, or 93.44 U.S. cents, after the index’s
release, from about C$1.0687 to the U.S. cents, or 93.57 U.S.
cents, before its release.

The Ivey employment index slipped to 48.4 from 49.2 in
December, while the inventory subcomponent ticked higher to
44.6 from 42.2.

The supplier deliveries index was at 41.5, down from 42.6
in December. The prices index rose to 67.8 from 52.5.

The Ivey index is based on figures from 175 members of the
association. It is roughly equivalent to the U.S. Institute of
Supply Management indexes, but is not seasonally adjusted.

For details of this month’s index, please see
http://iveypmi.uwo.ca/english/graphs.htm

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(Reporting by Jennifer Kwan; editing by Rob Wilson)

UPDATE 1-Canada’s Ivey index ticks higher in January