Canada’s Manufacturing Demand Weakened in December

The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) in December 2023 was 45.4, down 2.3 points from November. Manufacturers reported sharper decreases in output and new orders.­

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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