In February, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 47.8, falling 3.8 points from January, marking the lowest reading since July 2024. Manufacturers reported a decrease in new orders, output, and employment due to tariff concerns.
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
