Canadian manufacturing contracted again in March

Canadian manufacturing contracted again in March

Canadian manufacturing contracted again in March After a weak February manufacturing activity in Canada declined further in March according to the RBC Canadian Manufacturing PMI. Although the index improved slightly on the previous month (up from 48.7 to 48.9) anything below 50 indicates contraction. Craig Wright of RBC said that they are confident that an improving US economy and a more competitive Canadian dollar will drive exports but it isn’t happening yet.