Canada Manufacturing PMI in December
According to a report by Markit Economics, the Canada Manufacturing PMI (Purchasing Managers’ Index) stood at 51.8 in December 2016 compared to 51.5 in November. It met the market estimate of 51.6. It’s the strongest figure since July 2016.
Stronger growth in December indicated an improvement in Canada’s business activity. The performance is mainly due to the following:
- New orders rose at a faster pace.
- Production volume continued its expansion.
- Export orders increased at a higher rate.
- Domestic demand showed stronger growth.
- Manufacturers indicated an improvement in employment growth.
Impact on the economy
In this current global (ACWI) (VTI) (VEU) environment, the market is facing more uncertainties ahead of possible changes in US (QQQ) (IWM) trade policies. Improved domestic demand in Canada (EWC) is increasing the level of confidence.
In the next part of this series, we’ll look at the Japan (EWJ) Manufacturing PMI for December 2016.