Canadian economic activity expanded at a slower pace in July as a measure of employment declined and price increases accelerated, Ivey Purchasing Managers Index (PMI) data showed on Friday.
The seasonally adjusted index fell to 55.1 from 56.2 in June, marking its lowest level since March.
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 dipped to an adjusted 52.2 from 53.6 in June.
The adjusted prices index was at 75.5, up from 73.7.
The unadjusted PMI fell to 54.1 from 59.7.
Originally published by The Globe and Mail - Business.
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