MNI:Canada Nov Ivey PMI Edges Down to 63.0; Price Index Up

By Yali N'Diaye

     OTTAWA (MNI) - The Canadian Ivey Purchasing Managers Index was little

changed in November, when it edged down to 63.0 from 63.8 in October, data from

the Richard Ivey School of Business showed Thursday.

     But the 8.7-point increase in the price index to 67.7 suggests the dip in

the overall index was related to weaker activity, as the PMI index reflects the

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

     Still, the employment index recovered part of October's decline as it rose

1.9 points to 53.9, with 25.9% of respondents reporting higher employment in

November, while 18.8% reported lower employment.

     Over the month, Statistics Canada's Labor Force Survey reflected a further

strengthening of Canada's labor market, with employment up 79,500 in November,

the largest gain since April 2012, and the unemployment rate down to 5.9%, the

lowest since February 2008. 

     Elsewhere, the Ivey PMI inventories index rose to 60.1 from 58.2, while the

supplier deliveries index edged down to 45.8 from 45.9.

     On an unadjusted basis, the Ivey PMI was down to 62.4 from 63.5, with the

price index rising to 63.3 from 58.7.

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

[TOPICS: MACDS$,M$C$$$]