The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) in March was 48.6, down 3.8 points from February. Manufacturers reported the largest decrease in new orders since October, mostly attributed to rising inflation.
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
