TORONTO - The pace of purchasing activity growth in Canada slowed in August, while the employment and inventories gauges remained in contraction territory, the Ivey Purchasing Managers Index showed on Friday
The seasonally adjusted index fell to 50.9 from 54.1 in July, falling short of analysts’ expectations for 55.3. A reading above 50 indicates an increase in the pace of activity. The unadjusted index fell to 49.1 from 50.4.
The employment measure was below the 50 mark for the fourth consecutive month, though the pace of contraction moderated to 49.5 from 49.1.
The inventories and deliveries indexes also continued to shrink, slipping to 46.8 and 44.6, respectively.
The prices gauge was the only component above 50, though it slipped to 52.2 from 55.2.
Reporting by Leah Schnurr; Editing by Tom Brown