October 7, 2016 / 2:23 PM / a year ago

Canada's Ivey purchasing index jumps in September

Overhead view of the 2014 Spring National Job Fair and Training Expo in Toronto, April 3, 2014. REUTERS/Aaron Harris

TORONTO (Reuters) - The pace of purchasing activity in Canada jumped in September as employment grew and inventories were drawn down, according to Ivey Purchasing Managers Index data released on Friday.

The seasonally adjusted index rose to 58.4 from 52.3 in August.

A reading above 50 indicates an increase in the pace of activity. The unadjusted index surged to 68.1 from 53.8.

The employment component bounced back to 54 in the month after falling to 46.9 in August, while inventories fell to 46.7 from 61.2.

Prices notched higher, at 56.8 versus 56.7.

Reporting by Alastair Sharp; Editing by Chizu Nomiyama

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