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
