Canada's Ivey PMI shows economic activity expanding at slower pace

Canadian economic activity expanded at a slower pace in December, according to Ivey Purchasing Managers Index (PMI) data released on Tuesday.

The seasonally adjusted index fell to 51.9 from 60.0 in November.

The Ivey PMI measures the month-to-month variation in economic activity as indicated by a panel of purchasing managers from across Canada. A reading above 50 indicates an increase in the pace of activity.

The gauge of employment rose to an adjusted 51.4 from 50.3 in November, while the inventories index declined to 52.5 from 59.1.

The unadjusted PMI showed contraction, falling to 43.6 from 58.4.

(Reporting by Fergal Smith; editing by Jonathan Oatis)