Canada's Ivey purchasing index shrinks in June for second month
TORONTO, July 7 (Reuters) - The pace of purchasing activity in Canada shrank further in June, falling to the lowest level in six months and frustrating expectations for a pick up in growth, the Ivey Purchasing Managers Index showed on Monday.
The seasonally adjusted index fell to 46.9 from 48.2 in May, short of expectations for 52.5 and the weakest level since December. A reading below 50 indicates a decrease in the pace of activity.
The unadjusted index also decreased to 49.7 from 52.2.
The adjusted measure of employment fell to 45.6 from 48, potentially boding poorly for June's more comprehensive unemployment report due at the end of the week.
The inventories and deliveries indexes both continued to contract, while the measure of prices slipped to its lowest level since last July. (Reporting by Leah Schnurr; Editing by Chizu Nomiyama)
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