A gauge of business purchases showed considerable improvement last month.
Western University's Ivey Purchasing Managers Index (PMI) by the end of October 2013 stood at 62.8. The corresponding Ivey PMI figure for September 2013 was 51.9, for October 2012 was 58.3 and for October 2011 was 54.4.
The Employment Index for October 2013 was 51.7, the Inventories Index was 53.6, the Supplier Deliveries Index was 52.4 and the Prices Index was 59.5.
The PMI is provided in two formats, unadjusted and seasonally adjusted.
It shows responses to one question: "Were your purchases last month in dollars higher, the same, or lower than the previous month?" A figure above 50 shows an increase while below 50 shows a decrease.
