Slower declines in output and new orders provide 'some hope of the sector heading towards stabilisation after a prolonged downturn,' Paul Smith, economics...
TORONTO - Canadian manufacturing activity moved closer to stabilization in August as production and new orders fell at slower rates, but a decline in employment underscored an uncertain outlook and cost pressures rose to a 16-month high, data showed on Tuesday.
Slower declines in output and new orders provide "some hope of the sector heading towards stabilisation after a prolonged downturn," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement. "Firms continue to worry about price levels, and in this regard the latest data on inflation remained concerning."
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