Canadian Manufacturing Activity Hits Record Low

OTTAWA, Rabi’I 24, 1437, Jan 4, 2016, SPA — The Canadian manufacturing sector contracted for the fifth consecutive month in December, an industry index showed Monday, as activity dropped to a record low.
The RBC Canadian Manufacturing Purchasing Managers’ Index (PMI), a measure of manufacturing business conditions, fell to a seasonally adjusted 47.5 in December from 48.6 in November, the lowest level for the survey going back to 2010.
A reading below 50 indicates contraction in the sector. The index fell short of 50 for nine months of the year in 2015.
The Canadian economy was in a mild recession in the first half of the year and although growth resumed in the third quarter, the final quarter of 2015 got off to a weak start.

–SPA
19:43 LOCAL TIME 16:43 GMT