“Canadian manufacturers recorded robust rises in output, new orders and employment during July, thereby signalling another marked improvement in overall business conditions across the sector,” IHS Markit reported on Tuesday.
Key quotes from the official publication
- Canada Manufacturing Purchasing Managers’ Index (PMI) fell only slightly from June’s survey-record high of 57.1 and remained indicative of a strong improvement in overall business conditions.
- The latest survey also signalled a steep and accelerated rise in prices charged by manufacturing firms, which was widely linked to the impact of U.S. trade tariffs on steel and aluminium.
- Manufacturers are upbeat about the outlook for production levels at their plants in the next 12 months.