Canadian purchasing activity growth climbed to a 10-month high in August as supplier deliveries remained in the contraction territory, according to data from the Ivey Business School.
The seasonally adjusted Ivey Purchasing Managers Index rose to 60.6 in August from 54.2 recorded in the prior month. The index gauges monthly changes in economic activity as indicated by a panel of purchasing managers, with a reading above 50 indicating growth.
The employment index declined to 52.7 in August from 56.6 in July, while the inventories index rose to a nine month-high of 54.8 from 46.9 in the previous month.
The supplier deliveries index rose to 49.9 from 46.0 in July. Meanwhile, the prices index dropped to 51.3 from 59.2 in July.
