Canada PMI August 2019


Canada: Manufacturing PMI worsens in August

September 3, 2019

In August, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 49.1 from 50.2 in July. The index thus dipped below the 50-threshold, signaling a deterioration in manufacturing operating conditions.

August’s slip reflected a sharper decline in new orders, while output also dropped off. Moreover, employment levels increased at a slower pace. On the price front, both input and output prices increased at slower rates in August than in July.

Commenting on August’s print, Tom Moore, economics associate director at IHS Market, noted:

“August data also signalled a slide in growth projections across the manufacturing sector, with business optimism falling to its lowest level since early-2016. Concerns about the US-China trade war and rising global economic uncertainty were often cited by survey respondents."

FocusEconomics Consensus Forecast panelists expect fixed investment to contract 0.6% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, our panel projects fixed investment to increase 1.9%.

Author:, Economist

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Canada PMI Chart

Canada PMI August 2019

Note: IHS Markit Purchasing Managers’ Index. A reading above 50 indicates an expansion in purchasing activity while a value below 50 indicates a contraction.
Source: IHS Markit.

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