The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) in January was 51.6, dipping 0.6 points from December 2024 but marking the fifth month of readings above 50. Manufacturers reported mild declines in new orders and output amid market uncertainty due to possible tariffs on Canadian products.
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
