“The seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) registered 57.1 in June, up from 56.2 in May and the highest reading in over seven-and-a-half years of data collection,” Markit reported on Tuesday.
Key takeaways from the official publication
- Manufacturers reported the fastest rise in production levels for five months in June, which was linked to increased capacity and rising workloads.
- There were signs that manufacturing companies struggled to keep up with rising workloads in June.
- Robust demand for raw materials contributed to the strongest rate of input cost inflation since April.
- Manufacturers are upbeat about their growth prospects for the next 12 months, but the degree of optimism eased to its lowest since March.
- Despite a robust pace of job creation in June, some firms noted that capacity constraints were likely to act as a brake on production growth at their plants.
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