The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) in July was 49.6, up 0.8 points from June. Manufacturers reported increased output and forecasted production while new orders declined.
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. IHS Markit and S&P Global merged in 2022. See S&P Global