In October, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 49.6, increasing 1.9 points from September and marking the highest reading since January but remaining below 50 for the ninth consecutive month. Manufacturers reported continued declines in output, new orders, and employment, but at a slower rate.
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