The Ivey Business School Purchasing Managers Index (PMI), measuring Canada’s economic activity, decreased to 52.7 in November from 54.5 in October. That was the lowest reading since May.

A reading above 50 signals expansion, while a reading below 50 indicates contraction.

Within sub-indexes, the employment measure fell to 48.1 in November from 56.1 in the previous month and the supplier deliveries gauge plunged to 34.3 from 44.8. At the same time, the inventories indicator rose to 49.3 in November from 45.5 in October and the prices index increased to 66.1 from 63.0.