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Canada PMI February 2021

Canada: Manufacturing PMI increases slightly in February

In February, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) ticked up to 54.8 in February from 54.4 in January. Therefore, the index remained well-above the neutral 50-threshold, signaling an improvement in manufacturing operating conditions from the previous month.

In February, the PMI suggested momentum in manufacturing sector activity picked up from the previous month as stronger expansions in new orders and job creation supported operating conditions. That said, output growth eased slightly from January, while foreign demand only rose marginally. On the price front, both input and output price inflation accelerated in February. Lastly, optimism among firms rose to a five-month high in February, likely tied to the vaccine rollout program gaining significant traction in the second half of February.

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