Canada's Ivey purchasing index shows slower expansion in December

TORONTO (Reuters) - The expansion of purchasing activity in Canada slowed in December as inventories shrunk while employment continued to rise, according to Ivey Purchasing Managers Index data released on Friday.

The seasonally adjusted index fell to 60.4 from 63.0 in November. A reading above 50 indicates an increase in the pace of activity.

The unadjusted index fell to 49.3 from 62.4.

The gauge of employment rose to an adjusted 56.7 from 53.9, while inventories fell to 49.1 from 60.1.

(Reporting by Alastair Sharp; Editing by Alistair Bell)