Mfg index falls to lowest level in survey history

Mar. 3, 2015 – A monthly gauge of the Canadian manufacturing industry indicates the sector fell to 48.7 last month, coming in at its lowest level since the monthly survey began more than four years ago.

A reading less than 50.0 on the RBC Canadian manufacturing Purchasing Managers’ Index (PMI) indicates contraction.

The measure is down from 51.0 in January, ending a 21-month period of sustained expansion.

RBC says the survey highlights falling volumes of incoming new work and employment numbers across the sector.

Additionally, softer demand patterns contributed to more cautious inventory policies and lower input buying in February.

— With files from The Canadian Press