Canada PMI manufacturing dropped to 53.6 in December, down from 54.9. That’s also the lowest level since January 2017. Markit noted “softer rates of output and new order growth” and “export sales stagnate at the end of 2018”.
Christian Buhagiar, President and CEO at SCMA said:
“December data signalled a loss of momentum for manufacturers at the end of the year, with stagnating export sales and softer energy sector demand the key factors behind an overall slowdown in production growth. Survey respondents also commented that global trade tensions has led to greater risk aversion among clients. As a result, manufacturing companies have curtailed their expectations for output growth in 2019, with business optimism easing to its lowest for almost three years.
“Quebec was a notable outperformer in December as manufacturing conditions improved at the fastest pace for four months. Meanwhile, manufacturers in Ontario saw softer overall growth than in November, while those based in Alberta & British Columbia experienced the weakest upturn for just over two years.”
