Stable Slow Expansion

Canada's manufacturing sector continues to expand, but only modestly, with the PMI hovering near the low-50s rather than accelerating back to mid-year strength. The most likely path is a soft landing for factories as domestic demand and backlogs offset weaker export momentum tied to U.S. tariff uncertainty.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.