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Canadian economic activity expanded at a faster pace in May as a measure of employment climbed to its highest level in 11 months, Ivey Purchasing Managers Index (PMI) data showed on Tuesday.

The seasonally adjusted index rose to 72.0 from 66.3 in April. In March, it notched a record high of 74.2.

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 its highest since June 2021, at an adjusted 67.9 from 65.1 in April, while the prices index eased to 82.4 from 90.2.

The unadjusted PMI dipped to 66.7 from 68.0.