Canada S&P Global manfuacturing PMI 48.3 vs 45.4 prior

<ul><li>Prior was 45.4</li><li>Production was sub-50 for a sixth month in a row during January</li><li>Confidence in the future improved in January, hitting
its highest level in six months</li></ul><p>Commenting on the latest survey results, Paul Smith,
Economics Director at S&amp;P Global Market Intelligence
said:
</p><blockquote>“Canada’s manufacturing sector performance remained
subdued at the start of 2024 as weak underlying demand
for goods remained apparent. This continued to weigh on
production levels and led to further cuts in purchasing
activity and another round of job losses, albeit to lesser
degrees than seen at the end of last year.
</blockquote><blockquote>“Despite remaining inside negative territory, the latest
data therefore provide hope that the downturn in the
sector is bottoming out. Moreover, firms are looking
to brighter times in the next 12 months, with output
expectations hitting a six-month high. Manufacturers
and indeed policymakers will also be encouraged by
the latest price indices, which continued their recent
disinflationary paths in January.”</blockquote>

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