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.