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Canadian purchasing activity growth slows in November

The growth of purchasing activity in Canada slowed in November from October as prices increased for the second straight month.

The seasonally adjusted Ivey PMI index declined to 63.0 in November from 63.8 in October, but was up from 56.8 in November 2016. The index measures monthly variation in economic activity as indicated by purchasing managers in Canada, with a reading above 50 signaling expansion.

The prices index rose to 67.7 in November from 59.0 in October, and the inventories index increased to 60.1 from 58.2. The employment index climbed to 53.9 from 52.0 in October, while the supplier deliveries index edged down to 45.8 from 45.9 in the previous month.