In June, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 49.3, marking no change from May and the fourteenth straight month of below 50 readings. Manufacturers reported continued declines in demand, new orders, and output.
The PMI index is comprised of 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
