The Canada’s manufacturing PMI grew six tenths in May, rising to 56.8 points from 56.2 in April, his best result in two months. The figure, however, falls short of market expectations, whose consensus expected an increase to 57.6.
As published by S&P Global, the operating conditions of the Canadian manufacturing sector improved in May, thanks to a further expansion of production, new orders and employment. Sustained growth in demand prompted companies to increase their purchasing activity, and at a record pace, while capacity pressures continued to mount. Despite a further increase in sales, the business confidence fell to its lowest level in ten months, largely due to concerns about intense cost pressure. However, output and input price inflation rates fell to their lowest level since February.
Source: Fx Street
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