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Canada's Ivey PMI shows activity growing at slowest pace in 4 months

·1 min read

TORONTO, July 7 (Reuters) - Canadian economic activity expanded at its slowest pace in four months in June as prices cooled, Ivey Purchasing Managers Index (PMI) data showed on Thursday.

The seasonally adjusted index fell to 62.2 from 72.0 in May, its lowest level since February.

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 was unchanged from May at 67.9, while the prices index dipped to 77.9 from 82.4. That was the second straight month that the prices index has fallen and the lowest level since last December.

The unadjusted PMI fell to 57.8 from 66.7 in May. (Reporting by Fergal Smith; editing by Jonathan Oatis)