New data from the Institute for Supply Management’s Purchasing Managers Index (ISM PMI) revealed that Canada’s economic activity contracted in November, marking the first decline in six months, driven by a drop in employment indicators.
The seasonally adjusted index fell to 48.4 points last month, down from 52.4 in October, slipping below the 50-point threshold for the first time since May. Readings below this level indicate a contraction in economic activity.
The ISM PMI measures monthly shifts in economic performance based on responses from purchasing managers across Canada. The latest figures suggest weakening business conditions, particularly in hiring trends, signaling potential headwinds for near-term growth.
This downturn highlights growing challenges in maintaining momentum amid tighter monetary policy and subdued demand. Analysts suggest that sustained contraction could prompt reassessment of future interest rate decisions.
— news from الهيئة الوطنية للإعلام