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View All NewsCanadian manufacturing PMI exceeds neutral value for first time in five months
The Royal Bank of Canada’s Canadian manufacturing purchasing managers’ index rose above the neutral 50.0 value in June for the first time in five months, pointing to a modest recovery in business conditions across the Canadian manufacturing sector. The index rose to a reading of 51.3 in June from 48.8 in May. However, the latest reading was still below the average of 53.0 since the survey began in late 2010.
“The RBC PMI returned to positive growth territory during June, reflecting the lift to Canada’s manufacturers provided by an improved US economy and a more competitive Canadian dollar,” said Craig Wright, senior VP and chief economist, RBC. “As we move through the summer months, we expect a trend improvement in the level of activity in the manufacturing sector.”
The RBC PMI is a monthly survey conducted in association with Markit, a financial information services company, and the Supply Chain Management Association. It is based on data compiled from monthly replies to questionnaires sent to purchasing executives in more than 400 industrial companies.