Canada October Markit PMI

  • 21-month low

  • Fourth consecutive slide from a high of 57.1 in June

  • New orders 52.2 vs 53.8 prior

  • Output 53.0 vs 53.9 prior

  • Employment 55.3 vs 55.6 prior

  • Input prices 66.1 vs 65.9

"October data suggest that manufacturing production growth continued to ease from the elevated rates seen over the summer," said Christian Buhagiar, president and CEO, Supply Chain Management Association (SCMA). "More subdued demand in both domestic and export markets contributed to the weakest rise in new order volumes since November 2016."

It's a 21-month low but still growing. Still, you would think that October data would have shown a pickup after the USMCA deal. Then again, this number may be picking up lagging signals or trouble in the oil patch.