Monday’s data showed the PMI below the 50 threshold for the 13th straight month, the longest such stretch in data going back to October 2010
Canadian manufacturing activity slowed in May, adding to a record-setting period of contraction for the sector, as output and new orders fell at a faster pace and firms reduced their buying activity, data showed on Monday.
It left the PMI below the 50 threshold for the 13th straight month, the longest such stretch in data going back to October 2010. A reading below 50 marks contraction in the sector. The output index fell to a five-month low of 48.3 from 49.1 in April, while the new orders measure was at 48.1, down from 48.4 and the quantity of purchases index declined to 48.3 from 49.1.
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