The index Canadian Manufacturing PMI is up four tenths in February, rising to 54.8 from 54.4 points in January. This is the highest figure in two months.
According to the IHS Markit report, February saw a solid expansion in new order volumes. On the downside, there is a noticeable lengthening of supplier lead times and input price inflation intensifies amid shortages of materials.
Commenting on the latest survey results, Shreeya Patel, economist at IHS Markitsaid: “The latest PMI data highlights another solid improvement in the overall health and resilience of Canada’s manufacturing sector. An improving domestic demand outlook, increased purchasing activity and a sustained period of employment suggest that companies expect increased production in the coming months. “
“With that said, the COVID-19 continues to pose its threats with severe transportation bottlenecks affecting supply of inputs. As a result, companies faced more acute cost pressures that were consequently passed on to customers, “adds Patel.
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