TORONTO (Reuters) - Purchasing activity in Canada fell in March as employment weakened and price rises slowed while inventories surged, according to Ivey Purchasing Managers Index data released on Monday.
The seasonally adjusted index slipped to 47.9 from 49.7 last month. The index’s level below 50 indicated a decrease in the pace of activity.
The unadjusted index jumped for the second straight month, to 56 from 50.8.
Three of the index’s four subcategories declined, including the measure of employment, which fell to 45.1 from 47.3 to hit its lowest level since August 2013. Inventories jumped to 57.9, the fastest growth in stock since September, while prices dropped to 59.5 from 63.2, a second straight reduction.
Reporting by Alastair Sharp