In November, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 48.4, decreasing 1.2 points from October and remaining below 50 for the tenth consecutive month. Manufacturers reported continued declines in output, new orders, and employment amid market uncertainty.
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