OTTAWA, Nov 6 (Reuters) - The pace of purchasing activity in Canada cooled last month as measures of employment and supplier deliveries contracted, the Ivey Purchasing Managers Index showed on Thursday.
The seasonally adjusted index fell to 51.2 in October from September’s 58.6, short of analysts’ expectations for 57. A reading above 50 indicates an increase in the pace of activity.
The unadjusted index dropped to 54.2 from 65.2.
The employment gauge fell to 49.9 from 53, potentially boding poorly for the larger unemployment report due at the end of the week. Supplier deliveries likewise shrank, though the pace of contraction moderated to 47.4 from 42.7.
Inventories declined to 54.1 from 60, while prices pulled back from September’s high level at 71.6 to cool to 64.1. (Reporting by Leah Schnurr; Editing by James Dalgleish)