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PMI Sees Slower Pace Of Contraction, Firms Pass On Higher Costs

CANADA DATA
  • The S&P Global Canadian composite PMI increased from 44.7 to 46.3 in January, a shallower contraction than in December but nevertheless extending the current decline to eight months. Full press release here.
  • “Volumes of new orders displayed a similar trend to activity, falling again but at a slower rate. This allowed companies to keep on top of work outstanding, which fell for a nineteenth month in a row” whilst employment increased for first time in three months.
  • “Price indices showed accelerated rates of inflation in January as firms sought to pass on higher costs to clients.”
  • “Confidence in the future softened since December to its lowest level since July 2022.”

Source: S&P Global

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