Canadian Economic Activity Rebounds in September

TORONTO (Reuters) – Canadian economic activity rebounded in September after contracting in the prior month, as the pace of price increases cooled to its slowest in six months, according to the Ivey Purchasing Managers Index (PMI) data released on Friday.

The seasonally adjusted index rose to 53.1 from 48.2 in August. A reading above 50 indicates an increase in activity.

August's reading marked the first decline below the 50 no-change threshold in 13 months.

The Ivey PMI measures month-to-month variations in economic activity as indicated by a panel of purchasing managers from across Canada.

The gauge of employment fell to an adjusted 51.6 from 54.7 in August, while the prices index was at 58.2, its lowest level since March, down from 63.4.

The unadjusted PMI rose to 54.5 from 50.3.