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Canadian purchasing activity growth accelerates in September

Purchasing activity in Canada picked up pace in September, compared to August, as prices decreased for the second straight month, according to data from the Ivey Purchasing Manager's Index.

The seasonally adjusted Ivey PMI index increased to 59.6 in September from 56.3 in August, and from 58.4 in September 2016. The Ivey PMI index measures month-to-month variation in economic activity, as indicated by purchasing managers in Canada. A reading above 50 indicates expansion.

The prices index decreased to 52.4 in September from 59.9 in the previous month, and the inventories index fell to 52.8 from 57.1. The employment index rose to 59.4 from 55.9, and the supplier deliveries index increased to 48.5 from 47.6.