In October, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 51.1, improving 0.7 points from September and marking the highest reading in 20 months. Manufacturers reported an increase in new orders and demand amidst softening inflation.
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
