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Canadian RBC PMI: Slowest deterioration in manufacturing conditions for six months
Overall business conditions across the manufacturing sector moved another step closer to stabilization in February, according to the latest RBC PMI survey, with output and new orders both continuing to fall at slower rates than those seen at the end of 2015. Greater export sales remained a key factor in providing support to Canadian manufacturers, as highlighted by a rise in new work from abroad for the fourth consecutive month. At the same time, the weaker exchange rate resulted in another robust increase in average cost burdens, with survey respondents widely commenting on higher prices for imported materials and a ... (full story)