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Canada PMI February 2022

Canada: Manufacturing PMI ticks up in February

In February, the S&P Global Manufacturing Purchasing Managers’ Index (PMI) ticked up to 56.6 from January’s 56.2. Consequently, the index remained above the neutral 50-threshold, and signaled a marginally stronger improvement in manufacturing operating conditions from the previous month.

Output growth rose in February, due to less Covid-19 restrictions, while, new orders growth also accelerated and headcounts increased relative to the previous month. On the price front, both input and output prices continued to rise in February.

Commenting on the latest print reading, Shreeya Patel, an economist at IHS Markit, noted:

“For now, businesses in Canada are coping with external pressures, but issues surrounding rising costs and supply

are likely to persist for the duration of the year. The picture for the pandemic continues to improve, however.”

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