Canada Manufacturing Contracts
Canada's manufacturing PMI declined to 49.6, down significantly from the previous reading of 51.5.
The 1.9-point drop indicated a loss of growth momentum in the manufacturing sector, with activity moving into contraction territory.
The PMI's decline below the 50-point threshold signaled a contraction in Canadian manufacturing activity. Weakness in the sector could weigh on industrial production and the broader economic growth outlook. The figures may also influence Bank of Canada (BoC) monetary policy expectations and movements in the Canadian dollar.
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