Somewhat cheery news emerged from London, Ontario Thursday morning. Western University's Ivey purchasing managers’ index contracted at a slower rate than expected in February, easing concerns over the country’s economic outlook.
The Richard Ivey School of Business said its PMI rose to 49.7 last month from a reading of 45.4 in January. Analysts had expected the index to inch up to 46.2 in February.
A figure above 50.0 indicates industry expansion, below indicates contraction.
