The IHS Markit Canada Manufacturing PMI rose to 54.8 in February of 2021 from 54.4 in the previous month. The latest reading pointed to the 8th straight month of expansion in the country's factory activity and at a stronger pace. Solid increases were seen in new orders, output, employment and purchasing activity. However, intense supply chain pressures persisted, with delivery times lengthening markedly, as ongoing coronavirus restrictions had often led to material shortages and transportation delays. On the price front, the rate of input price inflation accelerated amid reports of higher material, mainly metals, and transportation costs. Meantime, the rate of output price inflation also quickened. Finally, sentiment regarding production over the next 12 months remained upbeat, with the degree of optimism reaching a five-month high, amid hopes of the complete easing of virus-related restrictions following a largely successful vaccine rollout programme. source: Markit Economics
Manufacturing PMI in Canada averaged 52.44 points from 2011 until 2021, reaching an all time high of 57.90 points in December of 2020 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 March of 2021.
Manufacturing PMI in Canada is expected to be 54.50 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 53.00 in 12 months time. 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.