Canada: June data pointed to sustained rebound in manufacturing - Markit

"June data pointed to a sustained rebound in manufacturing sector business conditions, but the pace of recovery eased to a four-month low amid weaker growth of incoming new work," announced IHS Markit on Tuesday.

Key highlights: 

• At 54.7 in June, down from 55.1 in May, the seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) eased further from April’s six-year peak
• Nonetheless, the latest reading was well above the neutral 50.0 threshold and signalled a solid improvement in overall business conditions
• Slower rates of new business and employment growth were the main factors weighing on the headline PMI in June
• the rate of employment growth remained strong in comparison to the trends seen over the past five years