Canada Sept Ivey Recovers To 59.6 in Sept From 56.3 in August

By Yali N'Diaye

     OTTAWA (MNI) - In September, the Canadian Ivey Purchasing Managers Index

recovered some of the ground lost over the two previous months, rising 3.3

points to 59.6, data from the Richard Ivey School of Business showed Friday.

     The price index dropped 7.5 points to 52.4, suggesting stronger volumes

were the likely reason for a higher overall index, as the latter reflects the

change in the value of firms' purchases across economic sectors.

     Meanwhile, the employment index continued its march higher for the fourth

consecutive month to reach 59.4 in September, its highest level since July 2016.

     The three-month average rose to 56.0 from 53.5.

     The report showed that 30.9% of respondents indicated hiring increased over

the month, with just 5.3% reporting it was lower.

     Statistics Canada reported earlier Friday that the Canadian economy added a

net 10,000 jobs in September, with full-time employment soaring 112,000, the

largest monthly gain since May 2006.

     The unemployment rate remained at 6.2% for the second month in a row, the

lowest level since October 2008, while wage growth picked up.

     Elsewhere, the Ivey PMI inventories index fell to 52.8 from 57.1, and the

supplier deliveries index rose to 48.5 from 47.6.

     On an unadjusted basis, the Ivey PMI rose 11.8 points to 68.6 in September

despite a 0.2-point decrease in the price index.

--MNI Ottawa Bureau; +1 613 869-0916; email: yali.ndiaye@marketnews.com

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