The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) fell to a seasonally adjusted 47.5 in September, its lowest level since May 2020, from 48.0 in August.
"In line with the global industrial downturn, the Canadian manufacturing sector continued to experience lacklustre performance during September," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement.
"Output and new orders both fell to steeper degrees amid evidence of slow market demand.
The output index fell to its lowest level since August 2022 at 45.6 from 47.7 in August.
Signs that cost pressures were stabilizing provided some encouragement, with the input price index dipping to 50.4 from 53.9 in August.
Persons:
Paul Smith, Smith, Fergal Smith, Andrea Ricci
Organizations:
TORONTO, P Global Canada Manufacturing, PMI, P Global Market Intelligence, Bank of, Thomson
Locations:
Canadian