Purchasing managers’ intentions rose in June, a survey by RBC said. Combined with reports of stronger U.S. factory orders in May and the prospect of interest rate cuts in the debt-laden eurozone later this week, it was a welcome piece of good news for Canadian investors.
The Toronto Stock Exchange enjoyed its single biggest one day gain so far this year with the TSX/S&P 500 composite index rising 252.19 points to close at 11,848.75.
The Toronto market is now down just 0.89 per cent since the start of the year.
The RBC Purchasing Managers Index – considered a leading indicator of future business activity — inched up to 54.8 last month in Canada, its highest level since last September, the bank said.
A figure above 50 indicates manufacturing is expanding, while a figure below 50 indicates the sector is contracting.
Canadian manufacturers are benefitting from a relatively strong domestic economy and also higher demand in the U.S., particularly for new autos, a major Canadian export, RBC chief economist Craig Wright said.
more
Canadian manufacturing bucks global trend, report says - thestar.com
The Toronto Stock Exchange enjoyed its single biggest one day gain so far this year with the TSX/S&P 500 composite index rising 252.19 points to close at 11,848.75.
The Toronto market is now down just 0.89 per cent since the start of the year.
The RBC Purchasing Managers Index – considered a leading indicator of future business activity — inched up to 54.8 last month in Canada, its highest level since last September, the bank said.
A figure above 50 indicates manufacturing is expanding, while a figure below 50 indicates the sector is contracting.
Canadian manufacturers are benefitting from a relatively strong domestic economy and also higher demand in the U.S., particularly for new autos, a major Canadian export, RBC chief economist Craig Wright said.
more
Canadian manufacturing bucks global trend, report says - thestar.com
