06 February 2012 at 15:13 GMT
The Canadian economy, as we have noted earlier, has produced solid numbers of late and today's January PMI report was no exception. The headline number at 64.1 is the best number since March 2011 (73.2) and the 3-month moving average is now up at 62.5 from 59.3. Consensus had expected at reading of 59.7.
The components are also quite strong with employment at 55.2 from 60 though as noted in this morning's Macro Update the inventory component at 57 is quite high as well.
