The pace of growth in the Canadian manufacturing sector picked up in October to its strongest level in two and a half years as firms saw greater demand for their products, data showed on Friday
The RBC Canadian Manufacturing Purchasing Managers’ index (PMI), a gauge of manufacturing business conditions, rose to a seasonally adjusted 55.6 last month from 54.2 in September, making for the highest level since April 2011.
The forward-looking new orders measure matched that record, rising to 58.5, while output climbed to 56.6.
A reading above 50 shows growth in the sector.
See on business.financialpost.com