Canada factory activity expands for first time in four months

Aug 01, 2019

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TORONTO - Canadian manufacturing activity expanded for the first time in four months in July as a measure of output rebounded from a three-and-a-half year low, data showed on Thursday.
The IHS Markit Canada Manufacturing Purchasing Managers’ index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 50.2 last month from 49.2 in June.
A reading above 50 shows growth in the sector.
The measure of output rose to 49.7 after it fell to 47.7 in June, its lowest level since December 2015.
Still, the data showed a decline in new work received from abroad. The new export orders measure fell to a four-month low at 48.0 from 50.0 in June.
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