Canada's Ivey purchasing index sinks in December

Tue Jan 7, 2014 10:14am EST
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TORONTO (Reuters) - Purchasing activity in Canada contracted sharply and unexpectedly in December, the second straight dismal monthly performance, according to Ivey Purchasing Managers Index data released on Tuesday.

The seasonally adjusted index fell to 46.3 from 53.7 in November, contrary to analysts' expectations for a rise 54.5. A figure below 50 shows a decrease in purchasing activity.

(Reporting by Alastair Sharp; Editing by James Dalgleish)

People go shopping in a mall in downtown Toronto, December 23, 2008. REUTERS/Mark Blinch