Reuters
2 minute read
TORONTO, Aug 3 (Reuters) - Canadian factory activity in July grew at the slowest pace in five months as supply chain pressures brought on by the coronavirus pandemic weighed, according to data released on Tuesday, but the rate of expansion remained firm.
The IHS Markit Canada Manufacturing Purchasing Managersâ Index (PMI) fell to a seasonally adjusted 56.2 in July from 56.5 in June. It was the lowest reading since February but still well above the 50 threshold which shows growth in the sector. Another robust improvement in operating conditions was seen across Canada s manufacturing sector in July, Shreeya Patel, an economist at IHS Markit, said in a statement. A further easing of virus-related restrictions and greater consumer confidence encouraged domestic demand.
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