The IHS Markit Canada Manufacturing PMI rose to 57.2 in July of 2021 from 56.2 in the previous month, pointing to the 14th straight month of expansion of factory activity. At the same time, it was the fourth strongest in the survey's history. New orders and output rose sharply, underpinned by improved demand domestically and internationally, particularly in the US and Europe. Meanwhile, despite rising for the 14th consecutive month and beating the long-term average, the pace of job creation moderated slightly amid struggles to find skilled replacements for voluntary leavers. Ongoing severe supply chain constraints and raw material shortages remained the main causes behind historic increases in backlogs of work and lead times. In response, companies added to pre-production inventories at the 2nd quickest rate on record, which fueled input price inflation to a fresh series high. Lastly, outlook reflected the strong demand environment, both of which improved starkly in August. source: Markit Economics
Manufacturing PMI in Canada averaged 52.62 points from 2011 until 2021, reaching an all time high of 58.50 points in March of 2021 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 September of 2021.
Manufacturing PMI in Canada is expected to be 56.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.