Royal Bank of Canada (RBC), the Supply Chain Management Association (SCMA) and Markit Economics released their RBC Canadian manufacturing PMI on Monday. The index rose to 52.2 in April from 51.5 in March. It was the highest level since December 2014.

The rise was mainly driven by increases in output, new orders and employment.

"The recent trend in Canadian manufacturing is encouraging with an improvement in output, new orders and employment. This pickup in activity has come alongside solid U.S. domestic demand and a more competitive currency which supports export activity," RBC senior vice-president and chief economist, Craig Wright, said.