Canada’s manufacturing sector expanded in December at the slowest pace in nearly two years as production growth faltered and export orders stagnated, data showed on Wednesday.
The IHS Markit Canada Manufacturing Purchasing Managers’ index (PMI), a measure of manufacturing business conditions, fell to a seasonally adjusted 53.6 last month, its lowest since January 2017, from 54.9 in November.
A reading above 50 shows growth in the sector.
“December data signaled a loss of momentum for manufacturers at the end of the year, with stagnating export sales and softer energy sector demand the key factors behind an overall slowdown in production growth,” said Christian Buhagiar, president and CEO, Supply Chain Management Association (SCMA). Click here to read more.
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