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Sharp downturn in CA manufacturing conditions recorded in May
Canadian manufacturers signalled another sharp deterioration in overall business conditions during May, which survey respondents again almost exclusively attributed to the impact of the coronavirus disease 2019 (COVID-19) pandemic. The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index® (PMI®) registered 40.6 in May, up from 33.0 in April but still well below the neutral 50.0 threshold. The latest declines in output, new orders and employment were all less severe than in April, but still the second-fastest since the survey began nearly ten years' ago. Production volumes have ... (full story)