OTTAWA (Reuters) - The pace of purchasing activity in Canada slowed slightly in October, while the employment measure fell into contraction territory, according to Ivey Purchasing Managers Index data released on Thursday.
The seasonally adjusted index edged down to 53.1 from 53.7 in September, short of analysts’ expectations for 54.0. A reading above 50 indicates an increase in the pace of activity.
The unadjusted index dropped to 52.3 from 63.3.
The adjusted measure of employment shrank to 48.3 from 57.1. Inventories also showed a contraction, dropping to 46.6 from 52.1.
Reporting by Leah Schnurr; Editing by Frances Kerry