Canada S&P Global Manufacturing PMI declines to 47.5 in September

• Manufacturing sector’s economic activity continued to contract in September.
• USD/CAD continues to edge higher toward 1.3650 after the data.

The business activity in Canada’s manufacturing sector continued to contract in September, with the S&P Global Manufacturing PMI declining to 47.5 from 48 in August.

Commenting on the survey’s findings, “in line with the global industrial downturn, the Canadian manufacturing sector continued to experience lacklustre performance during September,”  said Paul Smith, Economics Director at S&P Global Market Intelligence. “Output and new orders both fell to steeper degrees amid evidence of slow market demand. Price levels remain a problem for many clients, especially as Canadian manufacturers continued to hike their charges to a solid degree.”

Market reaction

USD/CAD continued to edge higher after this data and the pair was last seen gaining 0.45% on the day at 1.3637.