Global markets: Canada’s manufacturing slows to five-year-low

By Commodity News Service Canada

WINNIPEG, January 5 – The following is a glance at the news moving markets globally.

CANADA’S MANUFACTURING CONTRACTS IN DECEMBER FOR FIFTH MONTH
Adjusted for seasonal influences, Canada’s manufacturing purchasing managers’ index (PMI) fell to registered 47.5 in December, down from 48.6 in November and below the neutral 50 threshold for the fifth consecutive month, according to the Royal Bank of Canada’s PMI.

The latest PMI reading was the lowest in more than five years of data collection, largely reflecting weaker contributions from the output, new orders and employment components, RBC said in a report.

BRAZIL SEES LARGEST RECORDED TRADE SURPLUS IN DECEMBER
In December, Brazil’s trade surplus hit US$6.2 billion, which is the largest for that month since the data series began in 1980.

Though the news seems to be positive at first, economists say the gains were mostly led by a steep drop off in imports.

CHINA INJECTS ABOUT US$20 BILLION INTO ECONOMY
After a seven per cent decline in Chinese shares on Monday, which spurred declines in many other markets globally, officials injected US$20 billion into the country’s economy, according to reports, in an attempt to stabilize the market.

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