Canada’s S&P Global Manufacturing PMI rose to 49.6, up from the previous 47.7, marking an increase of 1.9 points. This indicates a slower contraction in the manufacturing sector.
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The actual PMI figure surpassed analyst estimates of 48.2, suggesting a more resilient manufacturing environment than anticipated. This positive surprise may boost investor sentiment, particularly in industrial and manufacturing stocks, as it hints at improving business conditions. The market impact is likely to be short-term, driven by sentiment, as investors reassess growth prospects.