May 5, 2017 / 2:19 PM / 5 months ago

Canada's Ivey purchasing index picks up modestly in April

OTTAWA, May 5 (Reuters) - The pace of purchasing activity in Canada edged up in April, though companies saw a significant increase in prices paid for input materials, according to Ivey Purchasing Managers Index data released on Friday.

The seasonally adjusted index increased to 62.4 from 61.1 in March. A reading above 50 indicates an increase in the pace of activity. The unadjusted index fell to 58.5 from 67.6.

The seasonally adjusted gauge of prices jumped to 70.9 from 57.0, suggesting firms could face tighter operating margins. Companies also drew down their inventories, with the measure tumbling to 46.5 from 61.7.

The measure of employment was little changed, dipping to 53.7 from 53.9.

Editing by Bernard Orr

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