Prior was 46.1The relatively better PMI reading reflected slower falls
in both output and new ordersThe unusually uncertain outlook, plus continued
underperformance in current sales, led firms to further trim
labour capacity
Commenting on the latest survey results, Paul Smith,
Economics Director at S&P Global Market Intelligence
said:
“Canada’s manufacturing economy continued to
struggle in the face of tariffs and uncertainty in August
although, somewhat positively, to a noticeably lesser
degree than earlier in the year. Although continuing to
decline, output, new orders and employment all recorded
slower falls compared to July.
“Hopefully, the manufacturing economy will continue
this broad underlying path towards stabilisation, but the
outlook remains extremely uncertain, with confidence
remaining way below its typical trend level – resulting in
a significant downside risk to sector performance going
forward. Moreover, adapting to the new international
trading environment remains a challenge, with costs
continuing to rise sharply, and customs and logistical
challenges leading to further supply-side constraints.”
This article was written by Adam Button at investinglive.com.