TORONTO (Reuters) - Canadian purchasing activity expanded at a faster pace in October as measures of employment and inventories rose, according to Ivey Purchasing Managers Index (PMI) data released on Wednesday.
The seasonally adjusted index rebounded to 61.8 after having slumped in September to 50.4, its lowest in more than two years.
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 unadjusted index rose to 64.6 from 56.5.
The gauge of employment rose to an adjusted 54.3 from 51.6 in September, while the inventories index rose to 60.9 from 51.8.
Reporting by Fergal Smith; Editing by Andrea Ricci