Canada's Ivey PMI rises to 5-month high in December

TORONTO, Jan 7 (Reuters) - Canadian economic activity expanded at its fastest pace in five months in December as employment and inventories climbed, Ivey Purchasing Managers Index (PMI) data showed on Tuesday.

The seasonally adjusted index rose to 54.7 from 52.3 in November, posting its highest level since July. A reading above 50 indicates an increase in activity.

The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.

The gauge of employment edged up to an adjusted 55.3 from 54.6 in November, while the inventories index was at 55.2, up from 50.1.

The unadjusted PMI fell to 44.3, its lowest level since December 2023, from 49.7.

(Reporting by Fergal Smith; Editing by Chizu Nomiyama)

((fergal.smith@thomsonreuters.com; +1 647 480 7446))