May Manufacturing Index Remains Down in Canada

In May, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 49.3, mostly unchanged from the 49.4 reading in April. Manufacturers reported continued declines in demand, new orders, and output caused by supply chain delays.

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

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