Index moves into contraction area

Canada PMI
  • manufacturing PMI falls to 49.1 from 50.2. A year ago it was at 56.8. This is the lowest reading since May 2019
  • new orders fall to 47.5 versus 49.4 in July. Lowest since December 2015 and the 6th consecutive month of contraction
  • input prices fall versus prior month and are at the lowest since July 2012