Purchasing activity in the Canadian economy expanded in September, and at a faster pace than the previous month, according to the Ivey Purchasing Managers Index released on Monday. The index, the joint project of the Purchasing Management Association of Canada and the Richard Ivey School of Business, rose to 61.0 in September from 51.5 in August.
A reading of 50.0 indicates that activity remained flat from the preceding month, while a higher reading indicates an increase and a lower reading reflects a slowing or decrease. The Ivey employment index eased to 49.2 in September from 53.0 in August, while the prices index increased to 74.6 in September from 72.7.
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