Canada July S&P Global manufacturing 49.6 vs 48.8 prior

<ul><li><a href="https://www.forexlive.com/news/canada-sp-global-june-manufacturing-pmi-488-vs-490-prior-20230704/" target="_blank" rel="follow">Prior </a>was 48.8</li><li>Job cuts were more prominent</li><li>July’s survey revealed
a fifth straight monthly fall in new orders</li></ul><p>Commenting on the latest survey results, Paul Smith,
Economics Director at S&amp;P Global Market Intelligence
said:
</p><blockquote>“July’s PMI results offered a rather mixed bag on the
performance of the Canadian manufacturing sector.
On the one hand, there was a welcome return to output
growth, following two successive months of contraction.
However, concurrently there was another, admittedly
small, drop in new orders as firms continued to signal
a high degree of market uncertainty and reluctance
amongst clients to commit to new work.
</blockquote><blockquote>“Moreover, there was an intensification of price
pressures as firms reported a myriad of inflationary
factors in July. However, amid reports of growing
market competition and with vendors seemingly having
sufficient capacity to easily cope with demand, inflation
rates remain broadly under control and well down on
levels seen around the turn of the year.”</blockquote>

This article was written by Adam Button at www.forexlive.com.