March 6, 2018 / 3:13 PM / in 8 months

Canada's Ivey purchasing index gains in February

OTTAWA (Reuters) - The pace of purchasing activity in Canada picked up in February, lifted by higher supplier deliveries even as the measure of employment cooled, according to Ivey Purchasing Managers Index data released on Tuesday.

The seasonally adjusted index rose to 59.6 from 55.2 in January, while the unadjusted index increased to 58.4 from 51.3.

A reading above 50 indicates an increase in the pace of activity.

On an adjusted basis, supplier deliveries climbed to 53.7 from 46.4. But employment pulled back to 52.4 from 56.5, while inventories also declined to 52.4 from 58.4.

Prices paid for inputs declined to 64.2 from 66.6, suggesting pressure on firms’ operating margins may ease.

Reporting by Leah Schnurr; Editing by Jonathan Oatis

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