RBC: purchasing managers index shows uptick in March, PMI highest since December
TORONTO – The RBC Canadian Manufacturing Purchasing Managers Index registered 53.3 in March, the 12th consecutive month that the PMI has indicated expansion.
RBC says there was a solid improvement in business conditions, especially with exports, but producers also experienced higher costs due to a weaker Canadian dollar.
The March reading is up from 52.9 in the previous month and the highest since December.
A reading above 50.0 indicates an expansion in the Canadian manufacturing sector while readings below that level indicate the sector is declining.
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