October 4, 2018 / 2:25 PM / 13 days ago

Canada's Ivey purchasing index slumps in September

TORONTO, Oct 4 (Reuters) - The expansion of purchasing activity in Canada slowed sharply in September as a measure of employment tumbled to a 16-month low, according to Ivey Purchasing Managers Index data released on Thursday.

The seasonally adjusted index fell to 50.4 last month from 61.9 in August. A reading above 50 indicates an increase in the pace of activity.

The unadjusted index fell to 56.5 from 61.3.

The gauge of employment dropped to an adjusted 51.6, its lowest level since May 2017, from 59.6. The inventories index fell to 51.8 from 53.0.

Reporting by Fergal Smith Editing by Paul Simao

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