Canadian factory PMI edges up to 11-month high in March

The S&P Global Canada Manufacturing Purchasing Managers’ Index rose to a seasonally adjusted 49.8 in March from 49.7 in February, posting its highest level since April

Canadian manufacturing activity moved closer in March to ending a lengthy period of contraction as employment rose alongside a slower downturn in new orders, data showed on Monday.

A reading below 50 indicates contraction in the sector. The PMI has been below that threshold since May, which is the longest such stretch in data going back to October 2010. The new orders index rose to 49.4 from 48.7 in February and the employment measure held steady at 50.7.

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