this post was submitted on 01 Dec 2023
13 points (93.3% liked)

Canada

10213 readers
530 users here now

What's going on Canada?

Related Communities

🍁 Meta

🗺️ Provinces / Territories

🏙️ Cities / Local Communities

Sorted alphabetically by city name.

🏒 SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer

💻 Schools / Universities

Sorted by province, then by total full-time enrolment.

💵 Finance, Shopping, Sales

🗣️ Politics

🍁 Social / Culture

Rules

  1. Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca

founded 4 years ago
MODERATORS
otter@lemmy.ca
mp3@lemmy.ca
otter@piefed.ca
mp3@piefed.ca
13
Canadian factory downturn deepens as new orders hit 15-month low (www.reuters.com)
submitted 2 years ago* (last edited 2 years ago) by girlfreddy@lemmy.ca to c/canada@lemmy.ca
5 comments fedilink hide all child comments
 

The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) fell to a seasonally adjusted 47.7 in November from 48.6 in October.

A reading below 50 indicates contraction in the sector. The PMI has been below that threshold since May, which is the longest such stretch since February 2016.

"Once again, the Canadian manufacturing PMI revealed some of the broad-based challenges facing the economy heading towards the end of the year," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement.

"Output and new orders remain mired in contraction territory, linked in part to a broader-based global industrial weakness which is limiting demand and sales. Destocking remains prevalent across the supply chain, and client budgets are stretched."

you are viewing a single comment's thread
view the rest of the comments
[–] autotldr@lemmings.world 1 points 2 years ago

This is the best summary I could come up with:

TORONTO, Dec 1 (Reuters) - Canada's manufacturing sector contracted for a seventh straight month in November as global industrial weakness weighed on output and new orders, and despite an increase in hiring, data showed on Friday.

The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) fell to a seasonally adjusted 47.7 in November from 48.6 in October.

"Once again, the Canadian manufacturing PMI revealed some of the broad-based challenges facing the economy heading towards the end of the year," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement.

"Output and new orders remain mired in contraction territory, linked in part to a broader-based global industrial weakness which is limiting demand and sales.

The output index fell to 46.1 from 46.9 in October and the measure of new orders was at 45.4, its lowest level since August 2022, down from 48.3.

The employment measure was a bright spot, moving into expansion territory for the first time since April, as it rose to 50.7 from 49.9 in October.

The original article contains 267 words, the summary contains 170 words. Saved 36%. I'm a bot and I'm open source!