Survey shows faster growth for Canada
CANADA’S economic prospects received a boost yesterday, with a widely regarded purchasing managers’ index (PMI) rising to 65.5 in May from 57.8 in April, in seasonally-adjusted terms.
The unadjusted index was 69.1 last month, up from 57.7 in April.
Analysts had forecast an unadjusted reading of 58.1 and a seasonally- adjusted reading of 60.
All readings above the no-change mark of 50 indicate growth in the economy.