Thursday, April 24th5.8°C
20923
21182

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

21719


Recent Trending




Today's Market
S&P TSX14533.39-22.58
S&P CDNX1010.986.10
DJIA16501.65-12.72
Nasdaq4126.967-34.491
S&P 5001875.39-4.16
CDN Dollar0.9077+0.0013
Gold1278.00-6.20
Oil102.15-2.22
Lumber333.40+1.80
Natural Gas4.763+0.033

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.22+0.01
Cantex0.05+0.005
Anavex Life Sciences0.38-0.005
Metalex Ventures0.080.00
Russel Metals31.30+0.13
Copper Mountain Mining2.33-0.05
Colorado Resources0.27+0.01
ReliaBrand Inc0.11+0.03
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.250.00

 



21720

FEATURED Property
18326753134 & 0 Mabel Lake Road
10074580 bedrooms
$880,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


On living and dying

Our ability to live beyond our years has nothing to do with medical science; we will all live longer than our physical bodies, each of us will leave behind a personal legacy made up of our deeds, our ...


Learning to flirt with the edge

With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...

_








Member of BC Press Council