OTTAWA (Reuters) - The pace of purchasing activity in Canada picked up in October, lifted by gains in employment intentions and company inventories, according to Ivey Purchasing Managers Index data released on Friday.
The seasonally adjusted index rose to 59.7 from 58.4 in September. A reading above 50 indicates an increase in the pace of activity.
The employment index rose to 57.3 from 54.0, while inventories climbed out of contraction territory to 53.5 from 46.7.
However, input prices also rose to 61.5 from 56.8, suggesting there was additional pressure on companies.
Reporting by Leah Schnurr; Editing by Paul Simao