Manufacturing PMI for Canada
Canada's Markit manufacturing PMI for the month of May rose to 40.6 from 33.0 in April. The plunge last month was the lowest level on record for this index. The index last peaked at 51.8 in February before the Covid – 19 related fall.
Some details
- new orders rise to 37.9 vs. 23.9 in April
- employment rises vs. the prior month
A reading below the 50 level is indicative of a contractionary economy. The index has been negative for 3 consecutive months.
