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Canada PMI April 2023

Canada: Manufacturing PMI rises in April

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose from 48.6 in March to 50.2 in April. As a result, the index moved above the 50.0 no-change threshold, signaling improving manufacturing sector operating conditions compared to the previous month.

Aprils reading reflected increases in output and employment. However, new orders and exports declined, spending by firms was muted, and business sentiment ebbed. While input price pressures increased, output prices rose at the weakest pace in nearly three years. As a result, despite the uptick, April’s reading shows that manufacturing firms continue to struggle; the sector’s rocky performance contrasts with ongoing robust services activity.

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