September 2015 RBC Canadian manufacturing PMI data
- Lowest on record
- Stock purchases 45.3 vs 47.2 prior. Also lowest on record and 10th month of contraction
- Output falls to lowest since March
RBC senior VP and chief economist Craig White is waiting for the US to come riding to the rescue
"Overall conditions in the Canadian manufacturing sector continued to deteriorate in September due to underlying economic conditions, including renewed downward pressure on the price of oil. Weakness was primarily concentrated in Alberta and British Columbia, with the rest of Canada's PMI levels registering above neutral and remaining in expansion territory. Despite
persisting challenges in the oil and gas sector, we expect the strengthening U.S. economy to boost Canadian exports and business conditions over the balance of the year."
Not much move in USDCAD which sits around 16 pips from the 1.3228 lows
