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Canada PMI January 2024

Canada: Manufacturing PMI rises in January

The S&P Global Canada Manufacturing PMI rose to 48.3 in January from 45.4 in December. As a result, the index remained below the 50.0 no-change threshold, but signaled a softer deterioration in manufacturing sector operating conditions compared to the previous month.

The manufacturing sector began 2024 with low demand at home and abroad, resulting in lower new orders, lower production cuts and job losses. More positively, the declines in output and new orders softened, output expectations increased and inflation rates fell despite shipping disruptions in the Red Sea.

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