Canada: Manufacturing PMI decreases in January, but remains upbeat nonetheless
February 1, 2021
In January, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) fell from 57.9 in December to 54.4. That said, the index remained well-above the neutral 50-threshold, signaling an improvement in manufacturing operating conditions from the previous month.
In January, the PMI increased a more moderate rate following December’s series record high, due to softer albeit still solid expansions in new orders, production and job creation as ongoing lockdown restrictions in most parts of the country continued to weigh on activity somewhat. On the price front, input price inflation remained elevated, while output prices also increased in January.
Author: Steven Burke, Economist