Dec. 3, 2014 – RBC’s latest Canadian Purchasing Managers’ Index (PMI) states its November data puts the Canadian manufacturing sector on a pace to have its best quarter in nearly three years.
Holding steady at a 12-month high, the index — a monthly gauge of the sector — remained at 55.3 in November, matching a high point set in November 2013 and again in October.
A measure above 50 indicates the manufacturing sector is expanding.
“November data indicated a strong and accelerated expansion of Canadian manufacturing production,” stated the report. “The latest upturn in output volumes was the fastest for three months and much stronger than the average seen since the survey began in late 2010.”
Published by RBC, Supply Chain Management Association and Markit, the index is based on data compiled from questionnaires sent to purchasing executives in more than 400 industrial companies.
— With files from The Canadian Press.