- Prior was 49.3
Commenting on the latest survey results, Paul Smith, Economics Director at S&P Global Market Intelligence said:
“The performance of the Canadian manufacturing economy remained subdued in June, with output, new orders, employment and purchasing all falling since the previous month. Panellists noted that underlying market demand remained soft, whilst also commenting that sales were perhaps weaker-than-expected – resulting in the accumulation of some excess inventory at their plants.
“A positive from the latest survey is that price pressures appear broadly contained, with costs rising at a softer pace than in recent months and charges increasing only modestly. However, limited pricing power is broadly a function of weak demand and a competitive marketplace, and with firms noting that prices remain too high for many clients, confidence in the future has subsequently softened to its lowest level of the year so far.”
