In August, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 49.5, improving 1.7 points from July but marking 16 consecutive months below the 50 no-change mark. Manufacturers reported continued declines in production, new orders, and output.
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
