Canada

In December, Canada entered its tenth straight month of declining operating conditions, as illustrated through the PMI index reported by S&P Global. A general lack of demand from consumers in Canada, combined with reduced orders from the USA, also translated into weak workforce replacement. While mass lay-offs are seldom in the headlines, firms have reported slower hiring rates while all but ceasing replacement hires.  

Multiple regions in Canada are experiencing very low temperatures which have been disrupting recycling operations nationwide. Reports of idled heavy equipment are common as operators struggle to process material in these conditions, exacerbated by slower inputs of material from a weak manufacturing sector. Overall flows are certainly weaker year over year.