Canada PMI January 2021


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.

FocusEconomics Consensus Forecast panelists expect fixed investment to rise 4.0% in 2021, which is down 0.9 percentage points from last month’s forecast. For 2022, our panel projects fixed investment to increase 3.8%.

Author:, Economist

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Canada PMI Chart

Canada PMI January 2021

Note: IHS Markit Purchasing Managers’ Index. Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: IHS Markit.

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