The IHS Markit Canada Manufacturing PMI fell to 54.4 in January of 2021, down sharply from 57.9 in December. The latest reading pointed to the seventh consecutive month of expansion in manufacturing activity although at the softest pace since July. Output, new orders and employment increased at weaker rates amid ongoing coronavirus restrictions. At the same time, manufacturing firms continued to boost their purchasing activity with input buying increasing modestly. Still, border restrictions and port congestion led to longer input delivery times and a rise in backlogs. On the price front, input cost inflation remained sharp with manufacturers reporting higher prices for aluminium, steel, and transportation. As a result, output charges were also lifted amid efforts to protect profit margins. Looking ahead, firms remained optimistic that output in the year ahead will improve, although the longer-term impact of COVID-19 weighed slightly on the degree of optimism. source: Markit Economics
Manufacturing PMI in Canada averaged 52.42 points from 2011 until 2021, reaching an all time high of 57.90 points in December of 2020 and a record low of 33 points in April of 2020. This page provides the latest reported value for - Canada Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Manufacturing PMI in Canada is expected to be 54.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Canada to stand at 53.00 in 12 months time. In the long-term, the Canada Manufacturing PMI is projected to trend around 53.00 points in 2022 and 52.00 points in 2023, according to our econometric models.