Markit manufacturing PMI data
- Prior was 50.5
- Production 48.9 vs 50.6 prior
- New orders 48.6 vs 49.9 prior (lowest since Dec 2015)
- Employment 49.7 vs 51.1 prior (lowest since Sept 2016)
That's the first contractionary reading since Feb 2016. The entire survey is an ugly picture. Part of the story is a mandatory production cut in the oil industry in Alberta but there are also soft domestic and export metrics.
