August 7, 2018 / 2:32 PM / 10 months ago

Canada's purchasing activity expands at slower pace in July: Ivey PMI

FILE PHOTO: A woman carries shopping bags while walking past a window display outside a retail store in Ottawa, Ontario, Canada, July 21, 2017. REUTERS/Chris Wattie/File Photo

TORONTO (Reuters) - Expansion of purchasing activity in Canada slowed in July as employment rose at a more moderate pace, according to Ivey Purchasing Managers Index (PMI) data released on Tuesday.

The seasonally adjusted PMI fell to its lowest since March at 61.8 from 63.1 in June. A reading above 50 indicates an increase in the pace of activity.

The unadjusted index fell to 56.7 from 65.1.

The seasonally adjusted gauge of employment slipped to 55.3, its lowest since February, from 59.3.

Reporting by Fergal Smith; Editing by Susan Thomas

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