OTTAWA Feb 7 The pace of purchasing activity in
Canada slowed modestly in January as inventories contracted and
the pace of price increases cooled, according to Ivey Purchasing
Managers Index data released on Tuesday.
The seasonally adjusted index fell to 57.2 from 60.8 in
December. A reading above 50 indicates an increase in the rate
The unadjusted index rose to 52.3 from 49.4.
On an adjusted basis, the measure of inventories shrank to
46.4 from 54.1. Growth in prices slowed to 70.1 from 73.8, which
was likely to give companies some relief.
On the upside, employment increased to 53.5 from 51.7.
Supplier deliveries remained in contraction territory, though
the index edged up to 46.6 from 45.9.
(Reporting by Leah Schnurr Editing by W Simon)