- Prior was 47.8
- Steepest drop in new orders since May 2020
Commenting on the latest survey results, Paul Smith,
Economics Director at S&P Global Market Intelligence
said:
“Canada’s manufacturing economy endured a
challenging month in March as the spectre of tariffs
being applied on a wider range of goods and services
continued to weigh heavily on the sector. Product
markets were again broadly paralysed, with clients
unwilling to commit to new work given the considerable
and enduring uncertainty related to tariffs that is
weighing on business decisions.
“Unsurprisingly, export trade suffered especially,
and firms are growing increasingly pessimistic about
the outlook, typically now expecting to see output
decline from present levels over the coming year. Not
surprisingly, firms are cutting back on purchasing,
lowering their inventories and not replacing leavers or
filling previous vacancies.
“Adding to the gloomy picture, and again a direct
consequence of trade tariffs, inflationary pressures
have picked up, with input costs rising to a degree not
seen since the summer of 2022.”
This article was written by Adam Button at www.forexlive.com.
#March #Canada #Global #PMI #prior #Forexlive
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