U.S. manufacturing index declines; Canadian PMI moves higher

(June 3, 2013) -- Activity in the U.S. manufacturing sector contracted in May 2013 for the first time since last November as evidenced by the ISM manufacturing index falling to 49.0 in the month from 50.7 in April. The May 2013 RBC Canadian Manufacturing PMI indicated a sharp rebound in business sentiment with the diffusion measure jumping to 53.2 relative to an April reading of 50.1.