Figures released Tuesday showed the pace of purchasing activity in Canada slowed modestly in November as measures of inventories and prices both declined.
The seasonally-adjusted Purchasing Managers Index, published by Western University's Ivey School of Business, declined to 56.8 from 59.7 in October, while the unadjusted index was unchanged at 56.5. A reading above 50 indicates an increase in the pace of activity.
Meanwhile, the measure of inventories -- also seasonally-adjusted -- fell to 47.2 from 53.5, while prices slipped to 60.5 from 61.5, potentially boding well for companies that had seen input prices rise with the depreciation of the Canadian dollar.
The Ivey school also cited an increase in employment as an encouraging sign, rising to 58.0 from 57.3, its highest level since July.
