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RBC report shows strong Canadian manufacturing business conditions

Published by Stephanie Brooks on July 04, 2012

A monthly index released by RBC Royal Bank Tuesday indicates an improvement in manufacturing conditions across the country, and growing employment and exports in the sector.

The RBC Canadian Manufacturing Purchasing Managers Index™, which provides a glimpse at the manufacturing sector’s health for the month, rose to 54.8 for June – the strongest improvement since September 2011. 

The average PMI reading for the second quarter as a whole is at 54.3, up from 51.6 in the first three months of 2012. 

Employment in manufacturing grew for the fifth successive month in June, while the rate of input price inflation slowed to its weakest pace since October 2010.

Canadian manufacturers are benefitting from a relatively strong domestic economy, and higher demand in the US, particularly for new automobiles. 

Please see further details about the survey here.

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