Canada's Ivey purchasing index sinks in July

Wed Aug 7, 2013 10:13am EDT
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TORONTO Aug 7 (Reuters) - The pace of purchasing activity in Canada notched a surprise decrease in July, according to Ivey Purchasing Managers Index data released on Wednesday.

The seasonally adjusted index fell to 48.4 in July from 55.3 in May. Analysts polled by Reuters had expected an adjusted reading of 57.0.

A reading below 50 indicates that the pace of activity decreased from the previous month. This was the first such decrease since November of last year.

The seasonally unadjusted index fell to 45.7 from 56.6.