Canada's manufacturing PMI fell to a three-year low in September
Standard & Poor's Global data showed that Canada's manufacturing PMI fell to 47.5 in September from 48.0 in August, the lowest level since May 2020, with the new orders index falling to 46.9 in September from 47.7 in August.
Standard & Poor's explained, "In line with the global industrial downturn, the Canadian manufacturing sector continued its weak performance during the month of September, as production and new orders fell to sharper degrees amid evidence of slowing market demand."
The production index fell to its lowest level since August 2022 at 45.6 in September from 47.7 in August, the employment index declined for the fifth month in a row, and the input price index fell to 50.4 in September from 53.9 in August.
Sponsored by Trade View