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Index says economic growth still occurring

Published by Steve Coleman on December 02, 2011

Canadian businesses continued to report a slow rise in their fortunes, according to a new monthly survey.

November's numbers from the RBC Canadian Manufacturing Purchasing Managers Index say the snapshot of manufacturing health showed the weakest improvement in Canadian manufacturing business conditions in four months.

However, production and new orders still rose, creating better all-around business conditions in Canada. The index rated economic growth in October at 53.7. November's number was 53.3. Anything below 50.0 is considered a decline in the economy. Anything above the 50.0 mark is growth.

"The latest RBC PMI numbers show that global uncertainty is weighing on the Canadian Manufacturing sector," said Craig Wright, senior vice-president and chief economist, RBC in a statement. "Although the Canadian numbers continue to point to an expansion in the sector compared to declines in other parts of the globe, the trend over the last couple of months has been one of slowing growth."

While growth is slower, clients are ordering more, the survey found. Delivery times have also been longer as businesses have started carrying less inventory.

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