Canadian Manufacturing PMI Jumps to 47.8 in June

Markit Manufacturing PMI for Canada recovered in june. The Canadian Manufacturing PMI reported a contraction of economic activity recording 47.8 in May, compared to 40.6 in June.

“The latest Canada Manufacturing PMI highlights a vastly improved situation in comparison to that seen over the previous three months,” said Tim Moore, Economics Director at the IHS Markit.

“Despite another improvement in their expectations for production during the year ahead, manufacturers continued to report highly subdued underlying demand in June, alongside widespread concerns about the global economic outlook.” he added.