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Canada PMI January 2019

Canada: IHS Markit manufacturing PMI records weakest improvement in over two years in January

In January, the seasonally-adjusted IHS Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 53.0 from 53.6 a month earlier, an over two-year low. However, the index remained above the 50-point threshold, signaling an ongoing expansion in manufacturing activity.

January’s reading reflected weaker output and new business growth, and a slight fall in new export orders, as survey respondents cited global trade frictions as a key driver behind softer activity. Nevertheless, employment growth was strong and firms became more optimistic about their output over the next 12 months.

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