TORONTO – A monthly report on Canadian manufacturing purchasing managers shows the sector’s overall outlook remains pessimistic, mainly because of weakness in the Alberta-British Columbia region.
The RBC Canadian Manufacturing PMI registered 49.0 in April — the third month that the national index was below 50.0, indicating declining business conditions.
Today’s report says most of the key components that make up the overall measure continue to show declining business conditions, though in a majority of cases at a slightly slower pace compared to March.
RBC attributed the weak national index to worsening conditions in Alberta because of lower oil prices and energy investments.
It said all the other regional indexes improved and had positive readings above 50.0.
The Alberta-B.C. index for April fell to 42.0 from 43.6 in March. In contrast, the rating for Ontario improved to 52.0 from 43.3, Quebec moved to 51.1 from 49.9 and “the rest of Canada” index was 54.4, up from 52.8 in March.
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