Canada’s Manufacturing Demand Remains Low in January

The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) in January was 48.3, up 2.9 points from December 2023 but still below the 50.0 no-change reading. Manufacturers reported slowed market demand due to increased market prices.­

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. See S&P Global

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