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Canadian purchasing activity growth accelerates in June

Canadian purchasing managers' activity grew at a faster pace in June compared to the previous month, although supplier deliveries were slower while prices increased, latest survey data from the Ivey Business School showed.

The seasonally adjusted Ivey purchasing manager's index rose to 63.1 last month from 62.5 in May. A reading above 50 indicates an increase.

The supplier deliveries index decreased to 47.0 from 48.7, while the prices index jumped to 74.3 from 64.4.

Meanwhile, the inventories index fell to 51.7 from 55.0. The employment index slipped to 59.3 from 61.2.

The Ivey purchasing manager's index measures the monthly change in activity in all sections of Canada's economy, as indicated by a panel of purchasing managers from across the country.