August data pointed to a robust upturn in the performance of the Canadian manufacturing sector, according to the RBC Canadian Manufacturing Purchasing Managers Index (RBC PMI), with overall business conditions improving at the fastest pace since
Adjusted for seasonal influences, the headline RBC Canadian Manufacturing PMI registered 54.8 in August, up from 54.3 in July and comfortably above the neutral 50.0 value. The latest reading was the highest for nine months and indicated a robust improvement in overall operating conditions across the manufacturing sector. Output and new business growth both accelerated during August, while job creation picked up markedly to its strongest for 11 months. Meanwhile, cost pressures subsided to their weakest so far this year, which contributed to a further moderation in factory gate price inflation during the latest survey period.
The momentum in
The headline RBC PMI reflects changes in output, new orders, employment, inventories and supplier delivery times.
Key findings from the August survey include: RBC Manufacturing PMI hits nine-month high, Sharpest rises in output and new orders since
Canadian manufacturers signalled a robust and accelerated expansion of production levels in August, thereby extending the current period of growth to 16 consecutive months. Moreover, the latest increase in output levels was the fastest since last November.
A strong pace of new order growth helped support rising production volumes during August, with the latest increase in new work being the steepest since
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