Canada’s August Ivey Purchasing Managers Index Fell to 62.5

Canada’s Ivey purchasing managers’ index remained near the highest levels since the first quarter in August, according to a statement on the University of Western Ontario business school’s website.

The index was 62.5 in August, following a prior reading of 62.8 in July that was the highest since March. Readings of more than 50 indicate purchasing by governments and companies advanced. Economists surveyed by Bloomberg News forecast a reading of 59.0, the median of 15 estimates.

The Ivey employment index rose to 58.6 in August from 54.3 in July, while the inventory reading dropped to 53.4 from 55. The supplier deliveries index fell to 44.3 from 50.3, and the Ivey prices measure dropped to 61.8 from 64.8.

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