TORONTO (Reuters) -Canadian economic activity expanded at a slower pace in October as a measure of prices edged higher, Ivey Purchasing Managers Index (PMI) data showed on Thursday.

The seasonally adjusted index fell to 52.4 last month from 59.8 in September.

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 activity.    

The gauge of employment rose to an adjusted 51.8 from 50.2 in September, while the prices index was at 64.3, up from 63.2.

The unadjusted PMI fell to 51.7 from 61.6.