Manufacturing index dips for December

A monthly gauge of the Canadian manufacturing sector fell in December, but still indicates the sector is growing. The RBC Canadian purchasing managers index slipped to 53.9 last month from 55.3 in November and October. A reading of 50 or above on the index indicates expansion in the Canadian manufacturing sector. RBC says the findings indicate business conditions for manufacturers continued to improve in December, but at a slower pace relative to the previous month. The bank said the recent collapse in oil prices poses some risk to spending in the energy sector, but added that lower gasoline prices will help to improve exports to the U.S. and Canadian consumer spending.