Canada economic activity expanding at slower pace

Canadian economic activity expanded at a slower pace in September as employment growth cooled, Ivey Purchasing Managers Index (PMI) data showed on Thursday.

The seasonally adjusted index fell to 59.5 from 60.9 in August.

The Ivey PMI measures the month-to-month variation in economic activity as indicated by a panel of purchasing managers from across Canada. A reading above 50 indicates an increase in activity.

The gauge of employment fell to an adjusted 62.5 from 66.3 in August, while the prices paid index rose to 68.1 from 64.4.

The unadjusted PMI fell to 55.9 from 57.1.