In April, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 45.3, falling one point from March, marking the third consecutive month below 50 and the lowest level since the pandemic. Manufacturers reported a sharp decline in new orders and production due to tariffs.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global