“The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index eased from 53.6 in December to 53.0 in January,” the IHS Markit reported on Friday.
Key takeaways from the press release
- Mirroring the trend signalled by the headline PMI, the latest survey pointed to the slowest rise in production volumes for 25 months during January.
- The rate of new business growth eased for the second month running and was the weakest since October 2016.
- A strong rate of employment growth was maintained across the manufacturing sector in January.
- Latest data signalled an improvement in business confidence regarding the year ahead outlook for production.
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