In June, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 45.6, decreasing 0.5 points from May and remaining below 50 for the fifth consecutive month. Manufacturers reported the sharpest decrease in production in five years. New orders, output, and employment also declined 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