December 6, 2016 / 3:18 PM / 10 months ago

Canada's Ivey purchasing index slips in Nov as inventories fall

OTTAWA, Dec 6 (Reuters) - The pace of purchasing activity in Canada slowed modestly in November as measures of inventories and prices both declined, according to Ivey Purchasing Managers Index data released on Tuesday.

The seasonally adjusted index declined to 56.8 from 59.7 in October, while the unadjusted index was unchanged at 56.5. A reading above 50 indicates an increase in the pace of activity.

The seasonally adjusted measure of inventories fell to 47.2 from 53.5, while prices slipped to 60.5 from 61.5, potentially boding well for companies that had seen input prices rise with the depreciation of the Canadian dollar.

An increase in employment was also an encouraging sign, rising to 58.0 from 57.3, its highest level since July.

Reporting by Leah Schnurr; Editing by Bill Trott

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