- Prior was 50.2
- Softer new orders and output
- Destocking remained a common theme amongst
manufacturers and their clients
Commenting on the latest survey results, Paul Smith,
Economics Director at S&P Global Market Intelligence
said:
“A weak underlying demand profile weighed on the
Canadian manufacturing sector during May, with
production dropping since April and purchasing activity
cut. The latter has had some further positive impact on
supply chains, and with the challenges related to the
pandemic now principally unwound, lead times improved
for the first time in nearly four years.
“Better component availability helped to push down on
input costs, which were down slightly in May and marking
a noticeable turnaround from the elevated increases
we’ve seen over the past three years. Whilst there
remain some residual output price increases still being
recorded in the sector it feels that inflation challenges
in manufacturing are now coming to an end.”