Canadian Manufacturing Pace Slows Modestly In May

Reuters (CAN) (6/1) reports that “the pace of growth in the Canadian manufacturing sector cooled slightly in May as new orders and output slowed, though demand for exports rose to the highest level in two-and-a-half years, data showed on Thursday.” Reuters (CAN) adds, “the Markit Canada Manufacturing Purchasing Managers’ index (PMI), a measure of manufacturing business conditions, fell to a seasonally adjusted 55.1 last month from 55.9 in April.” The article points out that “a reading above 50 shows growth in the sector.” Overall the results found that “companies were optimistic about the stronger economy and said clients, particularly in the energy sector, were more willing to spend.” More