Wednesday, April 1st3.2°C
25757
23829

Canadian manufacturing index indicates slower pace of growth for sector: RBC

TORONTO - Growth in the Canadian manufacturing sector continued, but slowed in January, according to the Royal Bank's latest monthly purchasing managers index.

The January RBC PMI reading was 51.7 on a seasonally adjusted basis, down from 53.5 in December.

The index is intended as an indicator of trends in the manufacturing sector. A reading above 50 indicates expansion.

All five of the index components fell in January from December, but the bank noted the decline was smaller than between November and December, when the index dropped two full points.

"Underlying economic conditions — such as stronger growth in the U.S. economy and a weaker Canadian dollar — remain supportive for the outlook for domestic manufacturing in the period ahead," said Craig Wright, RBC's chief economist.

But the bank said January showed the slowest improvement in business conditions since April 2013. It also indicated production levels grew for the ninth month in a row, but the increase was the smallest since August.

The index is compiled in co-operation with the Supply Chain Management Association and Markit, a financial information company that compiles similar indexes in several countries.

The Canadian Press


Read more Business News

25719


Recent Trending




Today's Market
S&P TSX14902.44-5.95
S&P CDNX680.07-0.26
DJIA17776.12-200.19
Nasdaq4900.88-46.56
S&P 5002067.89-18.35
CDN Dollar0.7905+0.0017
Gold1191.40+8.30
Oil47.90+0.30
Lumber275.30-2.90
Natural Gas2.631-0.009

 
Okanagan Companies
Pacific Safety0.125+0.010
Knighthawk0.010.00
QHR Technologies Inc1.48-0.02
Cantex0.03-0.01
Anavex Life Sciences0.211-0.004
Metalex Ventures0.04+0.00
Russel Metals24.04-0.36
Copper Mountain Mining1.16-0.02
Colorado Resources0.11-0.01
ReliaBrand Inc0.0036-0.0024
Sunrise Resources Ltd0.04-0.01
Mission Ready Services0.25+0.02
Decisive Dividend Corporation1.80+0.02

 



25779

FEATURED Property
18126024219 Hobson Road, Kelowna, BC
10073969 bedrooms
$499,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Down payment

If you have less than 20% down payment, mortgage insurance is required through Canada Mortgage & Housing (CMHC), Genworth or Canada Guaranty. Homeowners no longer need the minimum 5% down payment ...


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...

_








Member of BC Press Council


25772