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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada RBC Manufacturing PMI climbed to 49.2 in June 2019
FMPMonthlyReleased July 2019
Canada RBC Manufacturing PMI climbed to 49.2 in June 2019, released July 2019, up 0.1 from May's 49.1 reading. The reading matched the 49 consensus. The print is running well below the 12-month average of 53.57. Over the past 3 months, RBC Manufacturing PMI averaged 49.4, vs 52.03 in the prior 3-month window. The reading is in the 6th percentile of the trailing 24-month range.
Latest Release
49.2
Actual
49
Consensus
49.1
Previous
Median Absolute Error
±0.96
across last 12 releases
Last Call
Jul 2019
Predicted: 48.38
Actual: 49.2
Error: -0.83
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Bullish CAD | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Bullish CAD | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Bullish CAD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
RBC Manufacturing PMI (Canada) was reported at 49.20 in July 2019. This beat the market consensus of 49.00 by 0.20. The reading rose from the previous value of 49.10. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 49.33, down from the prior three at 52.03.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD). A secondary relationship exists with CAD/JPY, positively correlated (Bullish CAD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.96.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include New Housing Price Index MoM (Jun 17) and Retail Sales MoM (Jun 19).
Auto-generated from current model state · Refreshes on each release · Last update July 2019.
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RBC Manufacturing PMI - CA
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About RBC Manufacturing PMI — Canada
DEFINITION
The RBC Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in a country. It provides valuable insights into the overall health and growth of the economy by tracking changes in production levels, new orders, employment, and supplier deliveries. This data is collected through surveys of purchasing managers in the manufacturing industry, making it a reliable and timely indicator of economic activity. The RBC Manufacturing PMI is used by investors, policymakers, and businesses to make informed decisions and assess the current and future state of the manufacturing sector.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2019): actual 49.2, consensus 49. Prior reading (May 2019): 49.1. Before that (Apr 2019): 49.7.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.