News Formal

Canadian factory PMI falls to three-year low in September as weak market demand weighs

  • 📰 globebusiness
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The S&P Global Canada Manufacturing Purchasing Managers’ Index fell to a seasonally adjusted 47.5 in September from 48.0 in August

Canada’s manufacturing sector downturn deepened in September to its lowest level since shortly after the start of the COVID-19 pandemic as weak market demand weighed on production and new orders, data showed on Monday.

A reading below 50 indicates contraction in the sector. The PMI has been below that threshold since May. “With job shedding again reported, these later developments add support to the Bank of Canada’s recent decision to hold its main policy rate unchanged,” Smith said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 31. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European stocks start fourth quarter with gains; focus on PMI data(Reuters) - European stocks started the final quarter of 2023 with modest gains on Monday, as the U.S. avoided a federal government shutdown, while ...
Source: SaltWire Network - 🏆 45. / 63 Read more »