April 6, 2018 / 2:14 PM / a year ago

Canada's Ivey purchasing index edges up in March

OTTAWA (Reuters) - The pace of purchasing activity in Canada edged up in March as measures of employment and company inventories rose, according to Ivey Purchasing Managers Index data released on Friday.

The seasonally adjusted index rose to 59.8 from 59.6 in February. The unadjusted index increased to 64.7 from 58.4. A reading above 50 indicates an increase in the pace of activity.

On an adjusted basis, the gauge of employment rose to 60.6 from 52.4. Data earlier on Friday showed the Canadian economy added more jobs than expected last month, driven by hiring in construction and a recovery in full-time positions.

Inventories rose to 54.3 from 52.4, though supplier deliveries contracted to 48.6 from 53.7. Prices eased to 60.0 from 64.2, suggesting firms may be less squeezed on their margins.

Reporting by Leah Schnurr; Editing by Chizu Nomiyama

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