TORONTO (Reuters) - The pace of purchasing activity in Canada showed steady growth in May as a measure of employment rose to a nine-month high, according to Ivey Purchasing Managers Index (PMI) data released on Thursday.
The seasonally adjusted index was unchanged at 55.9 in May from April, while the gauge of employment rose to 55.1 in May from 53.7 a month earlier. That was the highest level for the employment index since August last year.
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 its highest since October 2018 at 61.8 from 56.7 in April.
Reporting by Fergal Smith; Editing by Bernadette Baum
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