Canada manufacturing growth little changed in May

The RBC Canadian Manufacturing Purchasing Managers' index (PMI), a measure of manufacturing business conditions, dipped to a seasonally adjusted 52.1 last month from 52.2 in April. A sustained acceleration in export activity is key to the Bank of Canada's outlook, though the economy has yet to see it. Craig Wright, chief economist at RBC, said the decline in export sales "raises questions about Canada's transition to a more export-led expansion." The decline ended six consecutive months of growt