Canada: Markit Manufacturing PMI falls slightly to 57.2 in November versus 57.4 expected

Joel Frank Independent Analyst

According to IHS Markit, Canadian Manufacturing PMI fell slightly to 57.2 in November from 57.7 in October. That was slightly more than the expected decline to 57.4.

Commenting on the latest survey results, Shreeya Patel, Economist at IHS Markit, said: "The penultimate month of 2021 continued to indicate strong growth in Canada's manufacturing sector. Overall, Canada’s manufacturing sector performed well in November. Growth has certainly been hindered by transportation bottlenecks, material scarcity and intense cost pressures, but firms remain confident that such issues will subside in 2022."

Market Reaction

The loonie has not seen any reaction to the latest PMI numbers, which showed the manufacturing sector remaining in robust health.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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