In April, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 49.4, dipping 0.4 points from March. Manufacturers reported moderate declines in new orders and output caused by inflation concerns and supply chain delays.
The PMI index is comprised of 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
