Perhaps it's another sign the Canadian economy is losing some steam.
Western University's Ivey purchasing managers’ index contracted at a faster rate than expected in March, fueling concerns over the country’s economic outlook, industry data showed.
In a report, the Richard Ivey School of Business said its purchasing managers’ index fell to 47.9 last month from a reading of 49.7 in February. Analysts had expected the index to inch up to 51.1 in March.
A figure above 50.0 indicates industry expansion, below indicates contraction.
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