Canadian Economic Activity Slows in July

TORONTO (Reuters) – Canadian economic activity expanded at a slower pace in July as a measure of inflation fell to a four-month low, according to the Ivey Purchasing Managers Index (PMI) data released on Wednesday.

The seasonally adjusted index decreased to 57.6 from 62.5 in June.

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 rose to an adjusted 56.1 from 52.9 in June, while the prices index was at 59.2, down from 62.3 and its lowest level since March.

The unadjusted PMI fell to 55.3 from 62.4.