The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) in September was 47.5, dipping 0.5 points from August, marking the lowest level since May 2020. Manufacturers reported decreased output and new orders.
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