“The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) registered 54.9 in November, up from 53.9 in October, to signal the sharpest improvement in business conditions since August,” the IHS Markit reported on Monday.
Key takeaways from the press release
- Manufacturing production growth edged up from October’s 22-month low, helped by a stronger upturn in new order books.
- Despite a slowdown in demand conditions relative to earlier in the year, manufacturers reported a renewed acceleration of employment growth in November.
- Manufacturers remain optimistic overall about their growth prospects for the next 12 months.
- Input costs increased at the slowest rate since February, which meant that factor gate price inflation remained much softer than the survey-record highs seen during the summer.
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