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Canadian economic activity expanded at a slower pace in April, decelerating from a record-fast pace in the previous month, Ivey Purchasing Managers Index (PMI) data showed on Friday.

The seasonally adjusted index fell to 66.3 after notching a record high of 74.2 in March. 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 rose to an adjusted 65.1 from 62.5 in March, while the prices index climbed to 90.2 from 89.6.

The unadjusted PMI edged lower to 68.0 from 68.4.

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