The Institute for Supply Management’s purchasing managers’ index for US manufacturing decelerated to a reading of 53.5 in January from December’s reading of 55.1. January’s reading is the lowest in the last 12 months, but any reading above 50 typically indicates growth.

Investing.com reported economists expected a reading of 54.5.

The employment portion of the ISM’s manufacturing index decreased to a reading of 54.1 from 56.0 in December.

And in Canada, the Royal Bank of Canada’s Canadian manufacturing purchasing managers’ index decelerated to a reading of 51.0 in January, down from December’s reading of 53.9 and the lowest level since April 2012. This suggests only a marginal improvement in overall business conditions at the start of 2015. Additionally, employment numbers dropped for the first time since the start of 2014.

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.