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

TORONTO (Reuters) – Canadian economic activity expanded at a slower pace in April as growth in employment slipped and inventories declined, Ivey Purchasing Managers Index (PMI) data showed on Thursday.

The seasonally adjusted index fell to 56.8 from 58.2 in March. A reading above 50 indicates an increase in activity.

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 declined to an adjusted 55.8 from 60.3 in March, while the inventories index was down at 48.6 from 54.5.

The unadjusted PMI fell to 55.6 from 65.2.

(Reporting by Fergal Smith)