The IHS Markit Canada Manufacturing PMI increased to 56 in September 2020 from 55.1 in the previous month. The reading pointed to the third successive expansion in factory activity and the steepest since August 2018, as market conditions continued to recover from coronavirus lockdown restrictions. Output rose at the fastest pace in over two years and new orders advanced for the third straight month and at the quickest rate since June 2018 amid a rise in both domestic and foreign markets. Additionally, the job creation rate increased at a solid pace. On the price front, input prices rose boosted by supplier surcharges and higher cost of raw material costs, and output charges advanced on the back of higher charges as they sought to protect profit margins. Lastly, sentiment improved lifted by hopes of s of the passing of the COVID-19 pandemic and planned for new product launches.
Manufacturing PMI in Canada averaged 52.29 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 October of 2020. source: Markit Economics
Manufacturing PMI in Canada is expected to be 55.00 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 53.50 in 12 months time. In the long-term, the Canada Manufacturing PMI is projected to trend around 53.00 points in 2021 and 52.00 points in 2022, according to our econometric models.