In September, the seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) was 50.4, improving 0.9 points from August and marking the first month above the 50 no-change mark in 18 months. Manufacturers reported a marginal increase in new orders but a continued slowdown in demand and production.
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
