The IHS Markit Canada Manufacturing PMI edged down to 56.5 in June of 2021 from 57 in the previous month. The latest reading pointed to the 12th straight month of expansion in the country's factory activity but the softest in four months. Canadian firms noted stronger demand, domestically and internationally, which supported solid production and hiring levels, although both were seen expanding at the slowest pace since February. On the price front, inflationary pressures remained high on raw material shortages, which fueled the steepest increase in input prices in almost three years. Costs were largely passed onto clients, however the inflation rate seen in output charges softened from May’s historic high. Business morale improved markedly to a 3-month high in June, underpinned by hopes of greater client demand and plans to expand business operations. source: Markit Economics
Manufacturing PMI in Canada averaged 52.59 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 July 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. Looking forward, we estimate Manufacturing PMI in Canada to stand at 51.00 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.