OTTAWA (Reuters) - The pace of purchasing activity in Canada slowed in September as a decline in the measure of prices offset gains in employment and inventories, according to Ivey Purchasing Managers Index data released on Tuesday.
The seasonally adjusted index fell to 53.7 from 58.0 in August, a tad short of analysts’ expectations for 54.0. A reading above 50 indicates an increase in the pace of activity.
The unadjusted index rose to 63.3 from 55.6.
While the seasonally adjusted prices component decreased to 64.4 from 66.3, the other measures in the index all improved. Employment rose to 57.1 from 56.3, while inventories rebounded to 52.1 from 42.4.
Reporting by Leah Schnurr; Editing by Nick Zieminski