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Canadian purchasing growth eases in July

Growth in Canada's purchasing activity eased in July as prices jumped while inventories and supplier deliveries decreased, according to the new Ivey Purchasing Managers Index data released Aug. 4.

The Ivey PMI, which measures monthly variation in economic activity of purchasing managers, fell to a seasonally adjusted 60.0 from 61.6 in June.

The prices index rose to 69.2 in July from 57.4 in the previous month, and the inventories index dropped to 55.8 from 60.7. Supplier deliveries slipped to 46.2 from 46.9, and the employment index increased to 52.6 from 52.0. A figure above 50 in the index indicates an increase in purchasing activity.