By Trang Nguyen, THETAKEAWAY: Canada Ivey PurchasingManagers Index Falls to 63.5 in March > Lower Employment,Inventories and Prices Levels > CADPares Gain Canadian Ivey Purchasing Managers Index (PMI),declines more than expected in March, suggesting lower pace ofpurchasing activity in the Canadian economy. The Purchasing Management Association of Canadaand the Richard Ivey School of Business jointly reported today thatthe Ivey PMI, a leading indicator used to predict future trends,declines to 63.5 on a seasonally adjusted basis in March from 66.5 in February. The corresponding figure forMarch 2011 was 73.2 and for March 2010 was 57.5. The print fallsshort of prediction of 65.5 from Bloomberg News survey. March Canada Ivey PMI was still in a positive territory as figures over 50 indicate expansion; otherwise values under 50 signify contraction. Ivey Employment Index for March stood at 52.7, suggesting that employment was higher than the previous month. Inventories were lower in March as the Ivey Inventories Index printed at 45.7. Besides, price pressure continued to rise as a result of persistent strength of Canadian dollar. Prices Index stands at 63.9 compared with 73.1 in February. In contrast, Ivey Supplier Deliveries Index dropped to 47.4 last month from 48.8 in the previous month, indicating that deliveries were slower than February USD CAD 1-minute Chart: April 05 ,2012 Chart createdusing Strategy Trader – Preparedby Trang Nguyen Canadian dollar immediately gained groundversus most of its major trading partners after March employmentdata showed
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