In August, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 48.3, increasing 2.2 points from July but remaining below 50 for the seventh consecutive month. Manufacturers reported declines in output, new orders, and employment resulting from lower demand due to uncertainty around 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