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Canadian purchasing activity rises at faster pace in August

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Canadian purchasing activity rises at faster pace in August

Canadian purchasing activity expanded at a faster pace in August compared to July amid higher employment and prices, according to the latest Ivey Purchasing Managers Index.

The seasonally adjusted index, which measures monthly variations in economic activity as indicated by purchasing managers across Canada, rose to 61.9 last month from 61.8 in July. A reading above 50 indicates growth.

The employment index climbed to 59.6 in August from 55.3 in July, and the prices index increased to 71.5 from 71.1.

Inventories were higher in August than the previous month, with the index falling to 53.0 from 56.2. The supplier deliveries index decreased to 45.3 from 46.6, indicating that deliveries were slower compared to July.

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