In March, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 49.8, up 0.1 point from February. Manufacturers reported moderate declines in demand due to client economic uncertainty; however, the long-term outlook improved.
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
