Western University's Ivey purchasing managers’ index contracted at the fastest pace in six months in June, fueling concerns over the country’s economic outlook, industry data showed on Monday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index fell to 46.9 last month from a reading of 48.2 in May. Analysts had expected the index to increase to 52.5 in June.
The corresponding Ivey PMI figure for May 2014 was 55.3 for June 2013 was 55.3 and for 49 for June 2012.
The survey of company purchasing managers solicit whether their purchases were higher, the same, or lower than in the previous month.
A figure above 50.0 indicates industry expansion, below indicates contraction.
