- Prior was 46.1
- The relatively better PMI reading reflected slower falls in both output and new orders
- The unusually uncertain outlook, plus continued underperformance in current sales, led firms to further trim labour capacity
Commenting on the latest survey results, Paul Smith, Economics Director at S&P Global Market Intelligence said:
“Canada’s manufacturing economy continued to struggle in the face of tariffs and uncertainty in August although, somewhat positively, to a noticeably lesser degree than earlier in the year. Although continuing to decline, output, new orders and employment all recorded slower falls compared to July.
“Hopefully, the manufacturing economy will continue this broad underlying path towards stabilisation, but the outlook remains extremely uncertain, with confidence remaining way below its typical trend level – resulting in a significant downside risk to sector performance going forward. Moreover, adapting to the new international trading environment remains a challenge, with costs continuing to rise sharply, and customs and logistical challenges leading to further supply-side constraints.”
