TORONTO (Reuters) - Canadian purchasing activity contracted for the second consecutive month in October, dropping to its lowest in more than four years, Ivey Purchasing Managers Index (PMI) data showed on Wednesday.
The seasonally adjusted index fell to 48.2, its lowest since March 2015, from 48.7 in September.
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 below 50 indicates a decrease in the pace of activity.
The gauge of employment fell to an adjusted 47.2 from 49.6 in September, while the supplier deliveries index fell to 45.1 from 50.2.
The unadjusted PMI fell to 51.8 from 55.8.
Reporting by Fergal Smith; Editing by Chizu Nomiyama