By Fergal Smith TORONTO (Reuters) - Contraction in Canada's manufacturing sector gathered pace in August as production and new orders declined, data ...
SaltWire's Atlantic regional weather forecast for September 1, 2023 | SaltWireTORONTO - Contraction in Canada's manufacturing sector gathered pace in August as production and new orders declined, data showed on Friday, in a potential sign that higher borrowing costs are working to slow the domestic economy.
"Firms responded by cutting purchasing and utilising existing inventories, and signalled some worries over the potential for demand weakness to linger in the months ahead." Weakness in demand was concentrated in the domestic market, with the measure of new export orders showing expansion for a second straight month.
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