Canada Manufacturing Growth Strongest Since 2022

2026-05-01 13:42 By Joana Ferreira 1 min. read

The S&P Global Canada Manufacturing PMI rose to 53.3 in April 2026 from 50.0 in March, marking the strongest improvement in business conditions since June 2022.

Production growth reached its highest level since May 2022, while new orders expanded at the fastest pace in over four years, fueled by a sharp increase in new export orders, the strongest since early 2022.

This surge was largely driven by client stockpiling due to concerns over product availability, supply chain disruptions, and price pressures linked to the Middle East conflict.

Input buying also rose at the steepest rate since June 2022, while employment levels saw a slight increase and vendor delivery times lengthened at the greatest rate since March 2025.

On the price front, input costs rose at the fastest pace in over three-and-a-half years, with fuel and freight transportation costs contributing to the upward pressure.

Finally, business optimism improved to a 16-month high.



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Canada Manufacturing Growth Strongest Since 2022
The S&P Global Canada Manufacturing PMI rose to 53.3 in April 2026 from 50.0 in March, marking the strongest improvement in business conditions since June 2022. Production growth reached its highest level since May 2022, while new orders expanded at the fastest pace in over four years, fueled by a sharp increase in new export orders, the strongest since early 2022. This surge was largely driven by client stockpiling due to concerns over product availability, supply chain disruptions, and price pressures linked to the Middle East conflict. Input buying also rose at the steepest rate since June 2022, while employment levels saw a slight increase and vendor delivery times lengthened at the greatest rate since March 2025. On the price front, input costs rose at the fastest pace in over three-and-a-half years, with fuel and freight transportation costs contributing to the upward pressure. Finally, business optimism improved to a 16-month high.
2026-05-01
Canada Factory Activity Stagnates in March
The S&P Global Canada Manufacturing PMI fell to 50.0 in March 2026 from 51.0 in the previous month signalling a stagnation of manufacturing sector performance and ending a two-month period of improvement. Output declined for the first time in 2026 as new order volumes returned to contraction with high prices and ongoing headwinds from US tariffs continuing to weigh on export sales. Consequently subdued trends in orders led to a marginal net fall in staffing levels for the first time in three months as firms adjusted operational capacity and showed a reluctance to replace leavers. Meanwhile input price inflation accelerated to its highest level since last August driven by rising fuel and supplier charges from the war in the Middle East though output charge inflation softened to a three-month low. Looking forward uncertainty caused by the conflict and persistent tariff concerns saw confidence in future output fall to a three-month low.
2026-04-01
Canada Factory Activity Rises to 13-Month High
The S&P Global Canada Manufacturing PMI rose to 51.0 in February 2026 from 50.4 in the previous month, marking the second month of improvement and recording a 13-month high. Output stabilised in the period even as new order inflows returned to growth for the first time in over a year, with domestic demand helping to offset a sustained decline in export sales amid ongoing headwinds from US tariffs. Consequently, improved order books gave way to the fastest rise in staffing levels for 13 months, as firms boosted capacity in response to greater workloads and expansion plans. Meanwhile, input price inflation accelerated to a six-month high, driven by rising costs for steel and aluminum, and pushed firms to raise their output charges to the greatest degree since March 2025. Looking forward, confidence in future output improved to the highest level since December 2024.
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