Canadian manufacturing activity contracted at a slightly faster rate in December as an uncertain economic outlook and high inflation undercut demand, while the recent trend of easing cost pressures reversed, data showed on Tuesday.
The S&P Global Canada Manufacturing Purchasing Managers' Index fell to a seasonally adjusted 49.2 in December from 49.6 in November.
"The Canadian manufacturing economy turned in another relatively subdued performance as 2022 closed," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement.
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