Canada's output and new orders both fall at quicker pace in December

[Canadian Flag Waving]
forest_strider

The S&P Global Canada PMI recorded at 48.6 in December, little changed on November’s 48.4.

It was the eleventh successive month in which the PMI has posted below the critical 50.0 no-change mark, although the latest reading was indicative of only a modest deterioration in operating conditions that was weaker than rates seen earlier in 2025.

“Canada’s manufacturing economy ended the year on a subdued note, with output and new orders both falling again – as they have done in each month of 2025 apart from January. Once again, tariffs remained an important theme amongst PMI survey respondents, with a general air of uncertainty continuing to negatively weigh on current and expected output levels for the year ahead." said [https://www.pmi.spglobal.com/Public/Home/PressRelease/78c6ddcb80cf4ef0b14fc9dc3c091c86] Paul Smith, Economics Director at S&P Global Market Intelligence.

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