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- Canada's purchasing activity contracts further in October
Canada's purchasing activity contracts further in October
The Ivey
Business School Purchasing Managers Index (PMI), measuring Canada’s economic
activity, fell to 48.2 in October from an unrevised 48.7 in September. That was
the lowest reading since March 2015.
Economists had
expected the gauge to hit 54.4.
A figure above
50 shows an increase while below 50 shows a decrease.
Within
sub-indexes, the inventories indicator fell to 45.6 in October from 50.5 in the
prior month, while the employment measure dropped to 47.2 from 49.6 and the
supplier deliveries gauge decreased to 45.1 from 50.2. At the same time, the
prices index edged up to 57.0 in October from 56.9 in September.
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