Canada: Ivey PMI drops to 62.5 to miss market expectation of 69.7

"The Ivey Purchasing Manager's Index (seasonally adjusted) for May stands at 62.5, indicating that purchases were less than the previous month," the Richard Ivey School of Business said in its latest report. The unadjusted version of the data came in at 69.5 vs. 70.4 in April.

• Ivey Employment Index improved to 61.2 in May from 57 in April.
• Ivey Inventories Index rose to 55 in May from 52.4 in April.
• Ivey Supplier Deliveries Index edged higher to 48.7 in May from 48.3 in April.
• Ivey Prices Index fell to 64.4 in May from 67.9 in April.