Canadian S&P global manufacturing PMI 49.8 versus 49.7 last month

• Prior month 49.7
• February Canada S&P global PMI 49.8. Index is just below the 50 level

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

“Canada’s manufacturing economy crawled closer to
stabilisation in March, with output and new orders
recording only marginal falls. However, firms continued
to report that market demand remained subdued, with
clients hesitant to commit to new work. Manufacturers
subsequently remain focused on destocking as they
seek to better align their production and inventory
requirements. A pickup in input price inflation revealed by the latest
survey is a little concerning, although a slow and weaker
rate of charge inflation adds to a general feeling that
manufacturers continue to operate in a subdued
market environment. With interest rates still restrictive,
confidence in the outlook equally remains below trend,
though firms are nonetheless typically expecting
production growth to be recorded in the year ahead.”

This article was written by Greg Michalowski at www.forexlive.com.