“The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index dropped from 53.0 in January to 52.6 in February, which signalled the slowest overall improvement in business conditions since December 2016,” the IHS Markit reported on Friday.
Key takeaways from the press release
- February data signalled only a modest increase in production volumes, with the rate of expansion only fractionally stronger than January’s 25-month low.
- Manufacturers continued to signal an accumulation of unfinished business at their plants in February.
- Staffing levels rose at the slowest rate since January 2017.
- Latest data indicated that input price inflation moderated to its lowest since September 2016.
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