Canadian factory PMI falls in April as downturn hits one year [Reuters]
S&P Global Inc. (SPGI)
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Source: Reuters
TORONTO, May 1 (Reuters) - Canadian manufacturing activity slowed in April, extending a lengthy period of contraction for the sector, as output and new orders fell at an accelerated pace and inflation pressures picked up, data showed on Wednesday. The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) fell to a seasonally adjusted 49.4 in April from 49.8 in March, staying below the 50 threshold for the 12th straight month, the longest such stretch in data going back to October 2010. A reading below 50 marks contraction in the sector. "April's survey data revealed another relatively subdued performance of Canada's manufacturing sector, with both output and new orders both falling since March – and perhaps most disappointedly at slightly faster rates," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement. The output index fell to 49.1 from 49.7 in March and the new orders measure was at 48.4, down from 49.4. The measure of future
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