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Canada's purchasing activity growth cools in September

Purchasing activity in Canada expanded at a slower pace month over month in September as growth in employment and inventories decelerated, the latest Ivey Purchasing Managers Index showed.

The index, which gauges monthly changes in economic activity as indicated by purchasing managers across Canada, dropped to a reading of 50.4, from 61.9 in August, on a seasonally adjusted basis. A reading above 50 indicates growth.

The Ivey employment index fell to 51.6 in September from 59.6 in August, and the inventories index slipped to 51.8 from 53.0. The supplier deliveries index rose to 47.5 from 45.3.

Prices also increased at a slower pace in September, with the prices index falling to 68.8 from 71.5 in August.

The Ivey PMI is prepared by the Ivey Business School at Western University.