Canada - Produksjon PMI

The IHS Markit Canada Manufacturing PMI increased to 51.4 in November 2019 from 51.2 in the previous month, but below market expectations of 52.6. The latest reading pointed to the sharpest expansion in factory activity since February, as output advanced at the fastest pace in nine months amid strong domestic demand; and the job rate rose slightly. Meanwhile, new orders slowed as export sales declined to the largest extent since July. Stocks of finished goods were trimmed to the steepest rate in seven months, as rail strikes contributed to supply chain disruption. On the price front, input price inflation accelerated to a seven-month high; and output cost inflation advanced to a six-month high. Finally, sentiment weakened to its lowest level since February 2016.

The IHS Markit Canada Manufacturing PMI rose to 51.2 in October 2019 from 51.0 in the previous month. The latest reading pointed to the sharpest expansion in factory activity since February, as production expanded the most for eight months and new orders increased for the second month running. On the other hand, new export orders fell again in October amid intense competitive pressures; and the rate of job creation softened. On the price front, input cost inflation accelerated from the seven-year low seen during September while output costs increased only slightly, as subdued business conditions had held back their pricing power. Looking ahead, sentiment picked up to its highest since July on the back of new product launches and hopes of an improvement in global trade conditions.

The IHS Markit Canada Manufacturing PMI rose to 51 in September 2019 from 49.1 in the previous month. The latest reading pointed to the sharpest expansion in factory activity since February, as output increased for the first time in six months and new orders advanced slightly after declining for six consecutive months. Also, new export business rose and the rate of job creation accelerated to a 7-month high. Meantime, backlogs of work continued to fall, albeit at a slower pace. Input buying dropped, but stocks of purchases rose due efforts to restock. In addition, input delivery times faced by manufacturers lengthened amid shortages of certain materials at suppliers and transport issues. On the price front, input cost inflation eased for the third straight month and was the softest in the current period of rising input prices which began more than seven years ago, mainly due to cost of steel. Finally, sentiment improved boosted by plans to expand operations and new orders expectations.

The IHS Markit Canada Manufacturing PMI fell to 49.1 in August 2019 from 50.2 in the previous month. The latest reading pointed to a contraction in factory activity, as new orders dropped for the sixth consecutive month and at the steepest pace since December 2015. In addition, export orders declined mostly due to softer economic growth in the US and worsening automotive sector business conditions. Also, the job creation rate slowed due to less upbeat growth expectations and lower levels of purchasing activity have been recorded in five of the past six months, reflecting falling production and efforts to streamline inventories. On the price front, input cost inflation eased to an over seven-year low mainly due to raw materials prices in particular steel and output cost inflation rose at the slowest rate since October 2016. Finally, optimism weakened to a three-and-a-half year low amid worries regarding US-China trade war and global economic uncertainty.

The IHS Markit Canada Manufacturing PMI increased to 50.2 in July of 2019 from 49.2 in the previous month, pointing to the first expansion since March. Output fell at a much softer pace, with new orders closer to stabilization in July while pre-production inventories increased for the first time in six months. Additionally, employment rose at the fastest pace in five months. Meanwhile, new work decreased, dragged down by a weak export demand while backlogs continued to decline in July. On the price front, input cost inflation increased at the slowest pace since May 2013 while output charge also eased amid softer cost pressures and intense competition for new work. Looking ahead, manufacturers signalled a rebound in business optimism, mainly due to additional staff recruitment to long-term business expansion plans and a rise in optimism about the demand outlook.

The IHS Markit Canada Manufacturing PMI rose slightly to 49.2 in June 2019 from 49.1 in the prior month and above market expectations of 49.0. Still, the reading pointed to the third consecutive month of contraction in factory activity and the sharpest since December 2015. The downturn in output accelerated and was the largest since December 2015 while the decline in new orders was only modest and slower than in May. Meantime, export orders were broadly unchanged, after three straight months of falls, amid some boost from the removal of US trade tariffs on steel and aluminium. Also, employment rose for the second month running, though marginally. On the price front, input price inflation held close to the 52-month low seen in May, amid weaker demand for materials and lower steel prices. Output charges, in turn, rose the least since October 2016. Looking ahead, business optimism dropped, partly due to concerns over global trade frictions on manufacturing sector performance.