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Canadian manufacturing flat in January

Published by Steve Coleman on February 01, 2012

Production and new orders were flat for Canadian industry in January, the results of a new business survey say.

According to the RBC Canadian Manufacturing Purchasing Managers index, business was slow on both the production and new orders fronts.

The index rated manufacturing growth at 50.6 in January, down significantly from the 54.0 rating awarded in January and the lowest growth level since RBC started the index in October 2010. The scale rates anything above 50.0 as growth from the previous month, while anything below 50.0 is a contraction from the month before.

The two big factors in January's drop turned out to be the first drop in employment levels for the first time in the survey's history and a five-month high for production materials costs.

RBC says new orders increased for manufacturers in January, but the numbers were significantly lower than they were in December. One-fifth of respondents say they received fewer new export orders.

RBC conducts the survey monthly in conjunction with Markit.

Visit the following site for a more in-depth look at the latest numbers.

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