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TORONTO (Reuters) – Canada’s economic activity eased for the first time in 11 months in December, according to data from the Ivey Purchasing Managers Index (PMI) on Friday.
The seasonally adjusted index fell to 45.0 from 61.2 in November. This was the first time that the PMI was below the 50 threshold, indicating a decline in activity since January 2021 and the lowest level since May 2020.
The index measures a month-on-month change in economic activity, according to a panel of purchasing managers across Canada.
The employment gauge fell 50.0 adjustments from 54.5 in November, and the stock index fell from 55.0 to 49.6.
The unadjusted PMI fell to 51.1 from 61.2.
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