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Canada PMI August 2023

Canada: Manufacturing PMI falls in August

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) fell from 49.6 in July to 48.0 in August. As a result, the index moved further below the 50.0 no-change threshold, and signaled a faster deterioration in manufacturing sector operating conditions compared to the previous month.

August’s reading was the lowest since June 2020, and reflected falls in output, new orders, purchasing activity and employment. Moreover, confidence in the outlook fell to its lowest level since January. On the price front, input and output price pressures picked up in August from July.

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