FX.co ★ Canadian Manufacturing PMI Slides to 48.4 in November Amid Economic Challenges

The Canadian manufacturing sector continues to face headwinds as the S&P Global Manufacturing Purchasing Managers' Index (PMI) dropped to 48.4 in November, according to the latest data updated on December 1, 2025. This marks a decrease from the previous month's figure of 49.6, which was recorded in October 2025. The decline suggests that the sector remains in contraction territory, with the PMI below the 50.0 threshold that separates growth from contraction.

The latest data underscores ongoing challenges within Canada's manufacturing sector, which has been grappling with various economic pressures, including supply chain disruptions and fluctuating demand. The drop comes as manufacturers contend with tighter energy supplies and global market volatility, factors that have been impacting production capabilities and cost efficiencies.

With the PMI now at its lowest since the start of the year, industry stakeholders are calling for strategic interventions to bolster the manufacturing landscape. While there are signs of demand resilience in certain segments, the consensus points to a need for supportive policies to enhance competitiveness and stabilize operations amidst dynamic economic conditions.