Canadian economic activity expanded at a faster pace in February as inventories climbed, Ivey Purchasing Managers Index (PMI) data showed on Friday. The seasonally adjusted index rose to 56.6 last month from 50.9 in January, posting its highest level since September. 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.