The S&P Global Canada Manufacturing PMI rose to 56.8 in May of 2022 from 56.2 in the previous period, marking the 23rd consecutive month of expansion. Sustained growth was seen both for output and new orders, driven by stronger demand for consumer goods, while respondents also cited favorable business conditions due to eased pandemic related restrictions. At the same time, Canadian manufacturers recorded a rise in employment levels, despite also seeing higher capacity pressures. On the price front, inflationary pressure continued to run well above the long-term average, as raw material scarcity and ongoing supply-chain disruptions lifted prices for metals, fuel, resin, transportation, and materials. Looking forward, inflationary concerns pressed business confidence to slightly moderate in May, offsetting greater consumer demand and expectations of new clients. source: Markit Economics
Manufacturing PMI in Canada averaged 52.95 points from 2011 until 2022, reaching an all time high of 58.90 points in March of 2022 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 June of 2022.
Manufacturing PMI in Canada is expected to be 58.00 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 2023 and 52.00 points in 2024, according to our econometric models.