The S&P Global Canada Manufacturing Purchasing Managers’ Index fell to a seasonally adjusted 48.8 in October from 49.8 in September
Canadian manufacturing activity contracted for a third straight month in October as production and new orders fell, while recent pressure on the Canadian dollar contributed to a jump in output prices, data showed on Tuesday.
In August, it touched its lowest level in more than two years at 48.7. A reading below 50 shows contraction in the sector. The output index fell to 47.4 from 48.3 in September as high prices, labour shortages and weak demand weighed, while the new orders measure was down to 46.0 from 46.9.
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