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Canada’s Ivey PMI shows activity decelerating in October -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: May 17th, 2021, a shipping container was unloaded at Montreal’s Port of Montreal. REUTERS/Christinne Muschi/File Photo

TORONTO (Reuters] – Canadian economic activity grew at a slower rate in October due to a decline in supplier deliveries, Ivey Purchasing Managers Index data (PMI), showed Friday.

Although the seasonally adjusted index dropped to 59.3 in September from 70.4, it still remains above the threshold of 50 that signals an increase in activity for the ninth consecutive month.

An index that measures month-to-month variations in economic activity is calculated by buying managers across Canada.

While the gauge of supplier deliveries dropped to 27.5 from 36.5 in September and its lowest level since April 2020, it rose to 84.6 from 79.1.

Unadjusted PMI dropped to 61.2, from 64.5.

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