The pace of growth in the Canadian manufacturing sector firmed in March as output accelerated and new orders climbed, while purchasing activity rose at the fastest clip in almost seven years, data showed on Monday.
The Markit Canada Manufacturing Purchasing Managers’ index (PMI), a measure of manufacturing business conditions, increased to a seasonally adjusted 55.7 last month from 55.6 in February. A reading above 50 shows growth in the sector.
Output picked up to 55.0 from 54.8, reflecting strong demand which prompted some companies to try to boost production capacity at their plants. Click here to read more.
- IHS Markit Canada Manufacturing PMI – March 2018
- Gross Domestic Product by Industry – January 2018 (Statistics Canada)
- IHS Markit U.S. Manufacturing PMI – March 2018
- U.S. Factory Gains Cool as Inflation in Raw Materials Picks Up (Bloomberg)
- RBC Warns Investment Outflow From Canada Already Underway in ‘Real Time’ (Canadian Press)