The IHS Markit Canada Manufacturing PMI dropped to 50.4 in December 2019 from 51.4 in the previous month and below market expectations of 51.9. It was the lowest reading since August, as production volumes increased fractionally while new business declined, with firms noting subdued demand across the automotive and energy sectors. Also, exports fell amid difficulties winning new work in US markets while an improvement in demand from China was recorded. Employment levels increased at the weakest pace for four months due to cost cutting and concerns about the demand outlook. Lastly, business confidence was the weakest since February 2016.
Manufacturing PMI in Canada averaged 52.64 points from 2011 until 2019, reaching an all time high of 57.10 points in June of 2018 and a record low of 47.50 points in December of 2015. 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. source: Markit Economics
Manufacturing PMI in Canada is expected to be 52.30 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 52.50 in 12 months time. In the long-term, the Canada Manufacturing PMI is projected to trend around 52.00 points in 2020, according to our econometric models.