Canada’s Ivey PMI shows activity decelerating in October

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FILE PHOTO: A shipping container is unloaded in the Port of Montreal

TORONTO – Canadian economic activity expanded at a slower pace in October as a measure of supplier deliveries declined, Ivey Purchasing Managers Index (PMI) data showed on Friday.

The seasonally adjusted index fell to 59.3 from 70.4 in September but remaining above the 50 threshold that indicates an increase in activity for the ninth straight month.

The index measures the month-to-month variation in economic activity as indicated by a panel of purchasing managers in the public and private sectors from across Canada.

The gauge of supplier deliveries fell to 27.5, its lowest since April 2020 from 36.5 in September, while the prices index climbed to 84.6 from 79.1.

The unadjusted PMI fell to 61.2 from 64.5.

(Reporting by Fergal Smith)