The performance of Canada’s manufacturing economy continued to worsen in April as output and new orders both fell again. Firms cut their purchasing activity in response and sought to utilise inventories instead. However, efforts to keep on top of workloads led to some marginal employment growth as manufacturers retained some confidence in the outlook. Price indices both shifted upwards in April. The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ IndexTM (PMI®) signalled another deterioration in operating conditions during April, extending the current downturn to 12 months. However, the rate ... (full story)