Canada's Ivey PMI rises to 8-month high in December

TORONTO (Reuters) - Canadian economic activity expanded at its fastest pace in eight months in December, Ivey Purchasing Managers Index (PMI) data showed on Friday.

The seasonally adjusted index rose to 56.3 in December from 54.7 in November, its highest level since April.

The Ivey PMI measures the month-to-month variation in economic activity as indicated by a panel of purchasing managers from across Canada. A reading above 50 indicates an increase in activity.

The gauge of employment rose to an adjusted 57.9 from 55.3 in November, while the prices index was at 64.5, up from 62.1.

The unadjusted PMI fell to 43.7, its lowest since December 2022, from 53.2.

(Reporting by Fergal Smith; editing by Jonathan Oatis)