Canada Manufacturing Sector PMI Slips Into Contraction Territory at 49.6 in October

Canada’s manufacturing sector slid into contraction in October as tariffs and broader uncertainty weighed on factories, according to S&P Global data released Monday. The S&P Global Canada manufacturing purchasing managers’ index fell to 49.6, marking a third straight monthly decline and the first time this year below the 50-point expansion/contraction line, after 51.5 in September. Both production and new orders dropped, with the sharpest fall in new orders in more than a year. Firms also reported intensified price pressure tied to tariffs and trade disruptions linked to the Iran war, while delivery delays and supply-chain disruptions forced more reliance on existing inventory.