The IHS Markit Canada Manufacturing PMI dropped to 33 in April from 46.1 in the previous month. The latest reading pointed to the sharpest contraction in factory activity since series began, amid business closures and lockdowns due to the coronavirus pandemic. Output and new orders declined at the fastest pace on record. Supplier delivery times lengthened steeply reflecting severe distress across global supply chains amid delays at international borders due to the fast-spreading virus. The job shedding rate accelerated to an all-time high; and stocks of finished goods went down to a survey-record low. On the price front, input cost inflation slowed to an over seven-and-a-half year low due to commodity prices and weak demand for raw materials; and output prices dropped for the first time in three-and-a-half years. Finally, sentiment deteriorated to its lowest level since July 2012, amid uncertainty over the length of showdowns and a slump in energy sector spending.
Manufacturing PMI in Canada averaged 52.38 points from 2011 until 2020, reaching an all time high of 57.10 points in June of 2018 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 May of 2020. source: Markit Economics
Manufacturing PMI in Canada is expected to be 29.00 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 47.00 in 12 months time. In the long-term, the Canada Manufacturing PMI is projected to trend around 51.00 points in 2021 and 52.00 points in 2022, according to our econometric models.