Canada's Ivey PMI rises to 62.5 in June, close to April figure

OTTAWA (Reuters) - Canadian economic activity expanded in June at a faster pace than May and one of the fastest pace in several months, Ivey Purchasing Managers Index (PMI) data showed on Friday.

The seasonally adjusted index rose to 62.5 from 52.0 in April, posting its highest level since April and one of the highest in several months. A reading above 50 indicates an increase in activity.

The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.

The gauge of employment fell from May at 52.9, while the prices index dropped to 62.3, falling below the April number.

The unadjusted PMI was at 62.4, down from 59.1 in April.

(Reporting by Promit Mukherjee)