The Ivey Business School Purchasing Managers Index (PMI), measuring Canada’s economic activity, fell to 60.6 in September from an unrevised 48.7 in August. That was the lowest reading since March 2015.

Economists had expected the gauge to hit 54.3.

A figure above 50 shows an increase while below 50 shows a decrease.

Within sub-indexes, the inventories indicator fell to 50.5 in September from 54.8 in the prior month and the employment measure dropped to 49.6 from 52.7, while the supplier deliveries gauge rose to 50.2 this month from 49.9 in August and the prices index surged to 56.9 from 51.3.