Canada's PMI business index rose sharply in January

Feb. 6, 2014 at 10:34 AM

LONDON, Ontario, Feb. 6 (UPI) -- The purchasing managers index in Canada, a closely watched measure of business activity, rose sharply in January, the Ivey School of Business said Thursday.

The index that uses 50 as a break-even point, rose from 46.3 in December, a level that indicates contraction, to 56.8, a figure that indicates solid business growth, the Richard Ivey School of Business at Western University said in a monthly report.

A year earlier in January the index stood at 58.9.. A year earlier, in January 2012, the index stood at 64.1.

For January, the employment index showed businesses were losing employees with the index under 50 at 45.1. The inventories index for January was 48.4, while the supplier deliveries index stood at 51.6 and the prices index stood at 65.2.

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