In July, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 47.8, dipping 1.5 points from June, marking 15 consecutive months of decline. Manufacturers reported continued declines in production, new orders, and output.
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
