Canada: Manufacturing PMI falls in May
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) fell from 50.2 in April to 49.0 in May. As a result, the index moved below the 50.0 no-change threshold, signaling deteriorating manufacturing sector operating conditions compared to the previous month.
May’s reading reflected decreases in output, new orders, purchasing activity and employment. Soft demand led input prices to fall, while supply chain pressures eased, with average lead times for input deliveries improving for the first time since August 2019.