TORONTO, Dec 4 (Reuters) – Canadian economic activity contracted in November for the first time in six months as a measure of employment declined, Ivey Purchasing Managers Index (PMI) data showed on Thursday.
The seasonally adjusted index fell to 48.4 last month from 52.4 in October, marking the first move below the 50 threshold since May.
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 below 50 indicates a decrease in activity.
The gauge of employment declined to an adjusted 48.0 from 51.8 in October, while the prices index was at 66.1, up from 64.3.
The unadjusted PMI fell to 44.5 from 51.7.
(Reporting by Fergal Smith)
Comments