The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) last month was 48, declining 1.6 points from July. Manufacturers reported decreased output and new orders, marking the most significant drop this year.
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