Manufacturing activity held fairly steady in this country last month.
The seasonally-adjusted Canadian Manufacturing Purchasing Managers' Index came in at 51.9 in July up from 51.8 in June.
Late last month, RBC, Canada's largest bank, announced it was ending its five-year sponsorship of the manufacturing PMI, and re-naming it the Markit Canadian Manufacturing PMI.
Output, new business and employment all rose at a modest pace. However, there were signs of weaker demand from export markets, as highlighted by a renewed drop in new work from abroad. Meanwhile, exchange rate depreciation against the U.S. dollar continued to push up overall input costs.
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