Canada’s Ivey PMI shows activity expanding at slower pace in February

OTTAWA (Reuters) – Canadian economic activity expanded at a slower pace in February, Ivey Purchasing Managers Index (PMI) data showed on Monday.

The seasonally adjusted index fell to 51.6 from 60.1 in January.

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 activity.

The gauge of employment fell to an adjusted 59.4 from 60.5 in January, while the supplier deliveries index was at 55.8, up from 52.3.

The unadjusted PMI fell to 50.8 from 54.7.

(Reporting by Ismail Shakil in Ottawa)