Canada PMI January 2019


Canada: IHS Markit manufacturing PMI records weakest improvement in over two years in January

February 1, 2019

In January, the seasonally-adjusted IHS Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 53.0 from 53.6 a month earlier, an over two-year low. However, the index remained above the 50-point threshold, signaling an ongoing expansion in manufacturing activity.

January’s reading reflected weaker output and new business growth, and a slight fall in new export orders, as survey respondents cited global trade frictions as a key driver behind softer activity. Nevertheless, employment growth was strong and firms became more optimistic about their output over the next 12 months.

FocusEconomics Consensus Forecast panelists expect fixed investment to increase 0.9% in 2019, which is down 0.2 percentage points from last month’s forecast. For 2020, our panel projects fixed investment to increase 1.9%.

Author:, Economist

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Canada PMI Chart

Canada PMI January 2019 1

Note: IHS Markit Purchasing Managers’ Index. A reading above 50 indicates an expansion in purchasing activity while a value below 50 indicates a contraction.
Source: IHS Markit.

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