The RBC Canadian manufacturing PMI vies with the Ivey PMI for the hearts and minds of Canadian dollar traders. The RBC number is the new kid on the block but it’s slowly gaining ground and (I believe) will eventually be the benchmark for Canada.
The soft loonie is a big boost to manufacturers and that will make this a spot to watch in 2015.
- New orders 53.9 from 56.2
- Employment at 52.9 — lowest since June
Paul Ferley assistant chief economist at RBC remains optimistic.
“Despite the recent fluctuation in commodity prices, particularly for oil, we continue to be constructive on the overall economic environment in Canada, including exports, which should mean good things for manufacturing going forward,” Ferley said.
RBC Canada manufacturing PMI
