Canadian Manufacturing

Canada’s manufacturing sector signals continued expansion ahead

Monthly gauge of Canadian manufacturing sector hit 11-month high in October, indicating sustained growth

Print this page

TORONTO—A monthly gauge of the Canadian manufacturing sector hit an 11-month high in October.

The RBC Canadian Purchasing Managers’ Index (PMI) rose to 55.3 last month, up from 53.5 in September and matching a high point set in November last year.

A measure above 50 indicates the manufacturing sector is expanding.

Four of the five major subgroups within the index were up in October.

The one exception was the employment sub-index, which slipped to 53.6 from 53.8.

RBC says the Canadian manufacturing sector is being is supported by a combination of stronger demand in the United States and a weaker Canadian dollar.

The index, published the financial institution in association with the Supply Chain Management Association (SCMA) and financial information services company Markit Ltd., is based on a questionnaire sent to purchasing executives at more than 400 industrial companies.

It tracks new orders, output, employment, suppliers’ delivery times and stock of items purchased.

Print this page

Related Posts from the network