Canadian purchasing managers a bit less optimistic in December, index suggests
TORONTO - The RBC's monthly reading of the Canadian manufacturing sector dipped in December, but remained in positive territory.
RBC's Canadian Manufacturing Purchasing Managers' Index came in at 53.5 in December, a four-month low but still relatively strong.
Any reading above 50.0 is an indication of expansion.
The December index was down 1.8 points from 55.3 in November and down from 55.6 in October, which marked a 30-month high for the index. The last time the index fell below December's reading was in August, when it was 52.1.
"While output and new order growth ebbed in December following a particularly strong month in November, Canada's manufacturing sector continued to grow, registering a solid 53.5," said Paul Ferley, RBC's assistant chief economist.
RBC publishes the index in partnership with the Supply Chain Management Association and Markit, which compiles similar PMIs for several countries around the world.
The index is based on responses from purchasing executives at industrial companies in Canada.
"Despite having dipped to a four-month low in December, the RBC PMI continued to suggest that the manufacturing sector has moved past the weakness at the start of the year," said Cheryl Paradowski, SCMA's president and chief executive officer.
"Importantly, new orders continued to rise strongly, suggesting that overall growth will be sustained moving into 2014."
However, Paradowski added that the employment component of the composite index was disappointing, showing the weakest increase since April.
Read more Business News
- Burying utilities uncovers $1M overrunKelowna - 2:37 pm
- Car goes under school busBC - 2:34 pm
- Sunshine brings out cyclists and warningKelowna - 2:54 pm
- Cyclist hit by oncoming trafficKelowna - 2:48 pm
|QHR Technologies Inc||1.24||+0.05|
|Anavex Life Sciences||0.47||-0.07|
|Copper Mountain Mining||2.03||-0.11|
|Sunrise Resources Ltd||0.035||+0.005|
|Mission Ready Services||0.29||+0.015|
How will you pay for this today? Maybe it’s time to change the way you answer this common checkout question.With more payment options than ever, consumers can find easy ways to save money, simpl...
In the razzle dazzle of Hollywood it is hard to find anyone who stands out from the crowd. The fraternity of Actors, Producers, Directors and various other technical guru’s seem to live in a wo...
This past Sunday I drove from Kelowna to Powell River. For those of you who’ve never had to, particularly in winter, it means rising in the wee hours; managing a treacherous journey on the Coqui...