Decline reflects weaker output, new order and employment contributions.
January purchasing managers’ index drops to its lowest level in nearly two years.
Manufacturing conditions continued to improve, but at a slower pace as output and new orders rise at weaker rates.
PMI survey indicates higher levels of output, new orders and employment across the sector.
RBC PMI indicates a “robust improvement” in operating conditions.
Numbers are in line with an improvement in economic growth to about a 2% pace during Q2.
Output increase buoyed by rise in new order volumes, job creation and subdued input price inflation.
Continued increases suggest that recent shocks to the economy have been mitigated by strength elsewhere.
Manufacturing was on an upswing in December as Canadian small businesses gained confidence and manufacturers saw production and new orders rise.
The pace of new business picked up for Canadian manufacturers in August according to a new Canadian purchasing managers index report that follows a Statistics Canada’s latest GDP figures showing a contraction in the second quarter.