TORONTO (Reuters) - The pace of purchasing activity in Canada jumped in January, rebounding from a contraction the month before, though a measure of employment tumbled, according to Ivey Purchasing Managers Index data released on Thursday.
The seasonally adjusted index rose to 56.8 from 46.3 in December, surpassing analysts’ expectations for 51. A reading above 50 indicates an increase in the pace of activity.
The unadjusted index rose to 53.6 from 40.2.
The employment component slid to 45.1 from 53.4, while the delivery index picked up to 51.6 from 43.9. Prices climbed to 65.2 from 58.8.
Reporting by Leah Schnurr; Editing by Chizu Nomiyama; and Peter Galloway