Canadian factory sector downturn extends to longest since 2016
© Reuters. FILE PHOTO: Workers are seen at Bri-Steel Manufacturing, a manufacturer and distributer of large diameter seamless steel pipes, in Edmonton, Alberta, Canada June 21, 2018. REUTERS/Candace Elliott/File PhotoTORONTO - Canada's manufacturing sector remained in contraction for a sixth straight month in October as reduced output and rising cost pressures contributed to confidence in the outlook dropping to a three-year low, data showed on Wednesday.
"It was another disappointing month for the Canadian manufacturing sector, with output and new orders continuing to fall amid reports of underwhelming market demand," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement. "Perhaps most worrying is the pickup in input price inflation since September, which added to pressure on firms at a time of dwindling demand," Smith said
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