"Canadian Factory PMI Hits Three-Year Low in September"

Canada's manufacturing sector recorded its lowest level of activity since May 2020, as weak market demand led to a decline in production and new orders. The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) fell to 47.5 in September, indicating contraction in the sector. Output and new orders both decreased, while employment levels declined for the fifth consecutive month. The Bank of Canada's decision to maintain its main policy rate unchanged was supported by these developments.