The Toronto skyline in Canada

Canada PMI October 2019

Canada: Manufacturing PMI hits an eight-month high in October

In October, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) inched up to 51.2 from 51.0 in September. The index reached the highest level since February, and subsequently remained above the neutral 50-threshold signaling an improvement in manufacturing operating conditions.

October’s uptick reflected a quicker pace of growth in output and new orders, while employment levels increased, albeit at a softer pace. That being said, new export business fell in October, and respondents mainly noted intense competition and subdued global trade conditions as the key sources of drag on factory activity. On the price front, input cost inflation accelerated in October, while output prices ticked up only marginally. Meanwhile, manufacturers’ outlooks on future operating conditions improved in October due prospects of an improvement in global trade conditions over the next 12 months.

Commenting on October’s print, Tim Moore, economics associate director at IHS Markit, noted:

“Rising domestic demand has underpinned the gradual recovery in new work since the summer, but export sales remain relatively sluggish against a backdrop of weaker global trade conditions.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest