The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) in February was 49.7, up 1.4 points from January but still below the 50.0 no-change reading. Manufacturers reported moderate declines in new orders and output.
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
