S&P Global Says Canada Manufacturing Shows Signs of Stabilizing in October, But Outlook Still Uncertain

10:42 AM EST, 11/03/2025 (MT Newswires) -- October's PMI survey pointed to a relative improvement in the performance of Canada's manufacturing sector, said Paul Smith, Economics Director at S&P Global Market Intelligence, on Monday.

The S&P Global Canada Manufacturing Purchasing Managers' Index, a composite index designed to provide an overview of the health of the manufacturing sector, Monday recorded 49.6 in October, which was up from 47.7 in September.

Although operating conditions continued to deteriorate, they did so only fractionally as both production and new orders moved toward stabilization, noted Smith.

In addition, firms are hopeful that these positive signs will be built upon in the year ahead, with sentiment improving to a nine-month high, according to the economist.

"But the outlook remains highly uncertain, with the ongoing volatility in trade negotiations between Canada and the US only serving to highlight the difficulties that firms continue to face when trying to plan in such an unstable business environment," added Smith in a statement.

"Inevitably firms therefore remain cautious in their staffing and purchasing decisions, signalling a

preference for not replacing leavers and using existing resources and stocks wherever possible," he pointed out.

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