Canada: Markit Manufacturing PMI slumps to 49.1 vs. 49.8 expected

Eren Sengezer FXStreet

The Manufacturing PMI published by the IHS Markit in Canada fell to 49.1 in May from 49.7 in April, the lowest reading since December 2015, to show contraction at a faster pace in the sector's business activity.

Key takeaways from the press release

The latest PMI reading was the lowest in nearly three-and-ahalf years, albeit still indicating only a slight downturn.
Production continued to contract amid the sharpest drop in new orders since December 2015.
Employment saw a fractional increase after a slight dip in April, whilst input price inflation eased to its slowest rate in over four years.
Latest data pointed to deteriorating business conditions across all regions monitored by the survey.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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