The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) in June was 48.8, down 0.2 points from May. Manufacturers reported decreased output and new orders due to high interest rates and economic uncertainty.
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
