Canada November S&P Global manufacturing PMI 47.7 vs 48.6 prior

Prior was 48.6Firms continued to
utilise existing input inventories wherever possible in the
face of faster input price inflation.There were concurrent falls in production and new orders
during November Output
price inflation rose to a nine-month high in Novembermanufacturing employment rose slightly in the latest survey
period, first gain in 7 months

Commenting on the latest survey results, Paul Smith,
Economics Director at S&P Global Market Intelligence
said:

“Once again, the Canadian manufacturing PMI revealed
some of the broad-based challenges facing the economy
heading towards the end of the year. On the one hand,
output and new orders remain mired in contraction
territory, linked in part to a broader-based global
industrial weakness which is limiting demand and sales.
Destocking remains prevalent across the supply chain,
and client budgets are stretched.
“However, inflation remains stubbornly persistent, with
both price indices picking up since October. Although
inflation rates remain well down on previous year’s
highs, both vendors and manufacturers alike remain
willing to push cost increases downstream to clients.
This suggests there remains some work to do to fully
eradicate systematic price pressures, a situation made
more complicated by a still relatively healthy labour
market.”

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