TORONTO (Reuters) - The pace of economic activity in Canada picked up in November to its fastest in three months as measures of inventories and supplier deliveries rose, according to Ivey Purchasing Managers Index (PMI) data released on Thursday.
The seasonally adjusted index rose to its highest since August at 60.0 from 48.2 in October.
The Ivey PMI measures the month-to-month variation in economic activity as indicated by a panel of purchasing managers from across Canada. A reading above 50 indicates an increase in the pace of activity.
The gauge of inventories climbed to an adjusted 59.1 from 45.6 in October, while the supplier deliveries index rose to 52.7 from 45.1.
The unadjusted PMI rose to 58.4 from 51.8.
Reporting by Fergal Smith, Editing by Franklin Paul