In May, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 46.1, increasing 0.8 points from April but remaining below 50 for the fourth consecutive month. Manufacturers reported a decline in new orders, output, and employment due to tariffs.
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