TORONTO (Reuters) – Canadian economic activity expanded at a slightly faster pace in October as a measure of prices fell to its lowest level in six months, Ivey Purchasing Managers Index (PMI) data showed on Monday.
The seasonally adjusted index rose to 53.4 from 53.1 in September. It was the third straight month that the index was above the 50 threshold that marks expansion in the sector after dipping below that level in July.
The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.
The gauge of employment fell to an adjusted 54.7 from 58.5 in September, while the prices index was at 60.0, down from 67.3. It was the lowest level for the prices index since April.
The unadjusted PMI fell to 51.9 from 54.2.
(Reporting by Fergal Smith; Editing by Chizu Nomiyama)