A monthly survey of purchasing managers suggests the outlook for Canada’s manufacturing sector has become slightly less positive than it was in May. The RBC Canadian manufacturing PMI index registered 51.8 in June, down from 52.1 in May. It was the fourth month in a row for the index to register more than 50.0, signalling that purchasing managers at Canadian manufacturing companies see signs of expansion in the coming months. But Royal Bank says June’s index had the weakest national reading since March, which marked a return to business confidence after seven months of declining sentiment. “This weakening has coincided with the suspension of oilsands production in the face of wildfires through much of Alberta that is expected to send overall GDP growth into negative territory in the second quarter,” RBC said in a commentary.

Source: thestar July 04, 2016 18:00 UTC