The S&P Global Canada Composite PMI rose to 49.9 in April 2026 from 47.6 in March, nearing the neutral 50 threshold and signaling a stabilization in business activity. A solid increase in manufacturing output helped offset a slight contraction in the services sector. New orders improved, and employment expanded for the first time in nearly a year, pointing to a modest recovery in demand. However, cost pressures remained elevated, with input price inflation largely unchanged, while output prices rose at the fastest pace since July 2023, indicating firms are passing higher costs on to customers. source: S&P Global

Composite PMI in Canada increased to 49.90 points in April from 47.60 points in March of 2026. Composite PMI in Canada averaged 48.90 points from 2020 until 2026, reaching an all time high of 56.10 points in March of 2022 and a record low of 41.70 points in April of 2025. This page includes a chart with historical data for Canada Composite PMI.

Composite PMI in Canada increased to 49.90 points in April from 47.60 points in March of 2026. Composite PMI in Canada is expected to be 50.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Composite PMI is projected to trend around 51.00 points in 2027 and 53.00 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Bankruptcies 335.00 320.00 Companies Mar 2026
Business Outlook Survey Indicator -0.36 -1.78 points Mar 2026
Ivey PMI s.a 57.70 49.70 points Apr 2026
Capacity Utilization 78.50 78.90 percent Dec 2025
New Motor Vehicle Sales 176500.00 124004.00 Units Mar 2026
Changes in Inventories -10099.00 13364.00 CAD Million Dec 2025
Corporate Profits 150155.00 151381.00 CAD Million Dec 2025
Corruption Index 75.00 75.00 Points Dec 2025
Corruption Rank 16.00 15.00 Dec 2025
Crude Oil Rigs 82.00 120.00 Apr 2026
Industrial Production -1.20 -2.10 percent Feb 2026
Industrial Production Mom -0.10 0.00 percent Feb 2026
Manufacturing Production -3.10 -4.20 percent Feb 2026
Manufacturing Sales MoM 3.00 3.40 percent Mar 2026
Mining Production 3.60 0.30 percent Feb 2026
New Orders 73776787.00 69175318.00 CAD Thousand Feb 2026
CFIB Business Barometer 58.50 55.70 points Apr 2026
Wholesale Sales MoM 1.90 2.00 percent Mar 2026


Canada Composite PMI
The Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index. The weights reflect the relative size of the manufacturing and service sectors according to official GDP data. The Composite Output Index may be referred to as the ‘Composite PMI’ but is not comparable with the headline manufacturing PMI figure. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Canada Private Sector Nears Stabilization
The S&P Global Canada Composite PMI rose to 49.9 in April 2026 from 47.6 in March, nearing the neutral 50 threshold and signaling a stabilization in business activity. A solid increase in manufacturing output helped offset a slight contraction in the services sector. New orders improved, and employment expanded for the first time in nearly a year, pointing to a modest recovery in demand. However, cost pressures remained elevated, with input price inflation largely unchanged, while output prices rose at the fastest pace since July 2023, indicating firms are passing higher costs on to customers.
2026-05-05
Canada Private Sector Activity Contracts for 5th Month
The S&P Global Canada Composite PMI recorded 47.6 in March 2026, up from 47.1 in February and remaining below the 50.0 no-change mark for a fifth straight month. Manufacturing fell to 50.0 from 51.0 in March, while services rose to 47.2 from 46.5, with the latter being the main driver of the downturn. New business volumes declined for a sixteenth consecutive month and continued to weigh on output. Backlogs of work decreased markedly again as firms were easily able to keep on top of workloads. Employment contracted for a seventh successive month, albeit modestly, as firms pared staff or chose not to replace leavers. Business confidence edged up since February and reached its highest level since last September. On the price front input cost inflation accelerated to its highest level since last June, while output charge inflation rose solidly and reached its greatest degree since July 2025.
2026-04-06
Canada Factory Activity Contracts for 4th Month
The S&P Global Canada Composite PMI recorded 47.1 in February 2026, up from 46.4 in January and remaining below the 50.0 no-change mark for a fourth straight month. Manufacturing improved to 51 from 50.4 in February, while services rose to 46.5 from 45.8, with the latter the main driver of the downturn. New business volumes declined for a fifteenth consecutive month and continued to weigh on output. Backlogs of work decreased markedly again as firms were easily able to keep on top of workloads. Employment contracted for a sixth successive month, albeit modestly, as firms pared staff or chose not to replace leavers. Business confidence edged up since January and reached its highest level since last October. On the price front input cost inflation softened to its lowest level since September 2024, while output charge inflation rose solidly and reached its greatest degree since July 2025.
2026-03-04