{"id":1669916,"date":"2022-10-03T10:05:26","date_gmt":"2022-10-03T14:05:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1669916"},"modified":"2022-10-03T10:06:35","modified_gmt":"2022-10-03T14:06:35","slug":"canadian-factory-activity-shrinks-for-2nd-month-as-rate-hikes-weigh","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/canadian-factory-activity-shrinks-for-2nd-month-as-rate-hikes-weigh\/","title":{"rendered":"Canadian factory activity shrinks for 2nd month as rate hikes weigh"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcanadian-factory-activity-shrinks-for-2nd-month-as-rate-hikes-weigh%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1669916&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Fergal Smith<\/p>\n<p>TORONTO (Reuters) \u2013     Canadian manufacturing activity contracted for a second straight month in August as higher borrowing costs and an uncertain economic outlook contributed to a drop in new orders, but the pace of decline lessened, data showed on Monday.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The S&#038;P Global Canada Manufacturing Purchasing Managers\u2019 Index (PMI) rose to a seasonally adjusted 49.8 in September after falling to 48.7 in August, its lowest level since June 2020. A reading below 50 shows contraction in the sector.<\/p>\n<p>\u201cOutput and new orders continued to fall with the sector still feeling the repercussions of material shortages and delivery delays,\u201d Shreeya Patel, an economist at S&#038;P Global, said in a statement.<\/p>\n<p>\u201cDemand was once again hit by client hesitancy in the wake of rising interest rates and weak macroeconomic conditions.\u201d<\/p>\n<p>Prospects for the global economy have weakened in recent months as war rages in Ukraine and central banks hike interest rates aggressively to tackle inflation.<\/p>\n<p>The Bank of Canada has increased its benchmark rate by 300 basis points since March to a 14-year high of 3.25%.<\/p>\n<p>\u201cAnecdotal evidence suggested that Canadian companies feared a recession which had led firms to re-evaluate their growth projections,\u201d Patel said.<\/p>\n<p>The future output index dipped to 59.2 in August from 61.0 in July, its lowest level since May 2020, while the measure of employment was below the 50 threshold for the second straight month.<\/p>\n<p>More encouraging, was signs of easing inflation pressures. The output and input price indexes both fell to the lowest levels since November 2020.<\/p>\n<p> (Reporting by Fergal Smith; Editing by Chizu Nomiyama)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/canadian-factory-activity-shrinks\/attachment\/workers-make-jackets-at-the-canada-goose-factory-in-toronto\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI920N3-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI920N3-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Fergal Smith TORONTO (Reuters) \u2013 Canadian manufacturing activity contracted for a second straight month in August as higher borrowing costs and an uncertain economic outlook contributed to a drop<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1669916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1669916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1669916"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1669916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1669916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1669916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1669916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}