f
  •  
© Reuters. FILE PHOTO: Phase 2 of the reopening from the coronavirus disease (COVID-19) restrictions in Toronto © Reuters. FILE PHOTO: Phase 2 of the reopening from the coronavirus disease (COVID-19) restrictions in Toronto

TORONTO (Reuters) - Canadian manufacturing activity accelerated in August to its fastest pace in two years, adding to evidence of a rapid rebound in the domestic economy as businesses reopen following coronavirus-related disruptions, data showed on Tuesday.

The IHS Markit Canada Manufacturing Purchasing Managers' index (PMI) rose to a seasonally adjusted 55.1 in August, its highest level since the same month two years ago, from 52.9 in July. A reading above 50 indicates expansion in the sector.

In April, when many businesses were closed to help contain the coronavirus pandemic, the index slumped to a record low of 33.0.

The data "highlighted a strong upturn in the Canadian manufacturing industry, continuing the recovery from the severe second quarter downturn," Shreeya Patel, an economist at IHS Markit, said in a statement.

"Production and order book volumes both expanded at the fastest pace in two years, driven by the reopening of client businesses and improvements in customer demand," Patel said.

On Friday, a flash estimate from Statistics Canada showed that Canada's gross domestic product increased 3% in July, edging economic activity closer to pre-pandemic levels.

The PMI's measure of new export orders showed that foreign demand for Canadian goods expanded for the first time in six months, while the employment index climbed to its highest level since January 2019.

On a more cautious note, IHS Markit said that transportation delays, reduced staff and pandemic restrictions contributed to one of the steepest deteriorations in supplier performance since the start of the survey and input price inflation accelerated to a 19-month high.


Other relevant articles 
[2020-09-01 12:15:03] CEE manufacturing recovery marches on but signs of slowing
[2020-09-01 11:00:05] UK mortgage approvals jump as housing market bounces back
[2020-09-01 10:45:03] UK factories see big upturn in August, but from low ebb: PMI
[2020-09-01 10:40:02] Germany revises upward 2020 GDP forecast, sees weaker rebound in...
[2020-09-01 10:25:02] Euro zone factory output stayed strong in August: PMI
[2020-09-01 10:20:03] German manufacturing recovery remains on track in August: PMI
[2020-09-01 10:05:02] Spanish prime minister moderately optimistic about economic...
[2020-09-01 07:25:06] Chinese Factory Activity Bolstered Over 2020’s First New Export...
[2020-09-01 01:10:30] South Korea revised second-quarter GDP down 3.2%, ticks up from advanced estimates
[2020-08-31 07:25:25] Number of German companies with short-time work declines in...
[2020-08-31 07:10:21] Chinese Factory Data Slips, But Services Sector Sees Rebound, in...
[2020-08-31 04:20:25] China Factory Outlook Slips in August Amid Slow Recovery
[2020-08-31 02:10:22] Japan July industrial output rises 8.0% month-on-month
[2020-08-28 17:55:11] China revises list of technologies banned, restricted for export
[2020-08-28 14:50:11] U.S. consumer spending beats expectations in July
[2020-08-28 14:45:11] Exclusive: Germany seen revising upward its 2020 GDP forecast,...
[2020-08-28 13:30:11] Banks eye layoffs as short-term crisis ends, long-term costs emerge
[2020-08-28 11:10:20] Euro zone sentiment recovers for fourth straight month in August
[2020-08-28 09:15:10] French savings surged, profits plunge in record second-quarter...
[2020-08-28 08:40:10] Japan factory output seen up again, pandemic clouds outlook:...
[2020-08-28 01:15:11] UK business confidence rises from lows, job cuts on the way:...
[2020-08-27 20:25:07] U.S. Labor Department changes jobless claims data methodology...
[2020-08-27 16:10:11] U.S. pending home sales rise for third straight month in
[2020-08-27 14:45:07] U.S. weekly jobless claims drift around 1 million
[2020-08-27 14:40:07] Initial Jobless Claims 1.006 Million; Second Reading of GDP -31.7%
[2020-08-27 04:05:17] Australia second-quarter business investment contracts by most in...
[2020-08-26 16:15:07] White House says Trump could act unilaterally to avoid U.S....
[2020-08-26 16:00:08] U.S. core capital goods orders rise but remain below February...
[2020-08-26 09:15:06] French consumer confidence holds steady in August
[2020-08-25 22:50:05] Canadian, Chinese foreign ministers meet amid tensions over...
[2020-08-25 16:20:03] U.S. consumer confidence unexpectedly falls in August
[2020-08-25 16:20:03] U.S. new home sales beat expectations in July
[2020-08-25 14:35:03] Indian government consumption key to growth in economy amid...
[2020-08-25 12:20:03] UK retailers cut jobs by most since 2009, CBI says
[2020-08-25 08:25:02] German economy shrank by record 9.7% quarter-on-quarter in second...
[2020-08-25 05:45:47] Australian employment falls further, intensifying labor market...
[2020-08-25 01:20:25] CEOs speed up digital push and downsize offices, KPMG survey shows
[2020-08-24 08:15:23] Safe bet? Sovereign funds rethink once-reliable real estate
[2020-08-24 00:30:22] Mexico has won back nearly 67,000 jobs in August, president says
[2020-08-22 13:05:14] More than half of Spanish companies reopen after closing at...
[2020-08-22 03:15:14] Erdogan announces biggest Turkish gas find in Black Sea
[2020-08-21 23:50:12] Mexico inflation seen ticking up to 14-month high in early August
[2020-08-21 21:45:12] Colombia unveils plan to boost foreign investment, multinational...
[2020-08-21 21:40:11] Brazil posts biggest formal job gain for July since 2012
[2020-08-21 16:15:11] U.S. existing home sales shoot to near 14-year high in July
[2020-08-21 16:10:16] U.S. business activity surges to early 2019 levels: Markit flash...
[2020-08-21 10:50:11] UK firms see sharp August upturn but job cuts mount, PMI shows
[2020-08-21 10:15:10] Euro zone business recovery stuttered in August: PMIs
[2020-08-21 09:45:11] German recovery losing some momentum as services struggle in...
[2020-08-21 09:40:10] French business activity weaker than expected in August: PMI
[2020-08-21 08:20:13] UK retail sales rise above pre-pandemic levels
[2020-08-21 01:20:10] Britons a bit more upbeat on finances but worried about economy,...
[2020-08-20 14:50:07] U.S. weekly jobless claims back over one million
[2020-08-20 14:40:07] Initial Jobless Claims Unexpectedly Rise to 1.106 Million
[2020-08-20 11:00:10] UK online job adverts slip back, ONS says
[2020-08-19 08:40:07] UK inflation jumps unexpectedly in July
[2020-08-19 08:05:07] Taiwan to further free up economy, aiming to become Asian...
[2020-08-18 22:55:05] New York transit agency turns to Fed for $450 million borrowing
[2020-08-18 20:35:28] New Canadian Finance Minister Freeland earned spurs in trade...
[2020-08-18 17:05:04] U.S. housing starts surge in July in rare pandemic bright spot
[2020-08-18 13:50:08] Norway wealth fund sees turbulent times ahead on financial...
[2020-08-18 10:10:03] German engineering exports plunge in second-quarter as pandemic...
[2020-08-18 07:00:08] Indonesia posts biggest trade surplus in 9 years in July
[2020-08-18 06:05:11] Taiwan July export orders likely to rise for fifth straight...
[2020-08-17 22:00:27] Trump vows create tax credits for firms that bring jobs back from...
[2020-08-17 17:05:22] U.S. homebuilder confidence matches record high
[2020-08-17 11:10:21] UK household finances take new turn for the worse: survey
[2020-08-17 05:05:21] Thai second-quarter GDP shrinks 12.2% year-on-year, weakest in 22 years
[2020-08-14 16:40:24] U.S. business inventories decline further in June
[2020-08-14 15:35:10] U.S. manufacturing production rises more than expected in July
[2020-08-14 15:10:16] U.S. first-quarter productivity rises at its fastest pace in 11...
[2020-08-14 14:50:11] U.S. retail sales rise less than expected in July
[2020-08-14 14:40:11] U.S. Retail Sales Rebound Flattened in July; Sales up 1.2% vs...
[2020-08-14 11:20:20] Euro zone trade surplus surges as imports drop, employment in...
[2020-08-14 11:10:11] Hong Kong second-quarter GDP shrinks 9% year-on-year, full-year...
[2020-08-14 10:30:11] German economy will grow strongly in third-quarter but full...
[2020-08-14 09:30:11] Thai second-quarter GDP to post record contraction, slow recovery...
[2020-08-14 08:10:28] Japan exports to post double-digit fall again, machinery orders...
[2020-08-14 08:00:15] Chinese Data withs Factory Casts Doubt on Economic Recovery
[2020-08-14 06:35:14] China produces record crude steel in July on strong demand
[2020-08-14 04:35:10] China Jan-July property investment rises 3.4% year-on-year, picks...
[2020-08-13 16:30:08] Payroll tax holiday will cover the self-employed: Kudlow
[2020-08-13 15:00:09] Initial Jobless Claims Fell to 963,000 Last Week, Lowest Since March
[2020-08-13 14:50:07] U.S. weekly jobless claims fall below one million, but labor...
[2020-08-13 14:40:07] Initial Jobless Claims Fell to 963,000 Last Week, Lowest Since March
[2020-08-13 14:35:08] Initial Jobless Claims Fall to 963,000 Last Week
[2020-08-13 11:15:07] French unemployment rate hits 37-year low as lockdown skews data
[2020-08-13 11:05:06] One in three UK firms struggling with operating costs: ONS
[2020-08-13 10:55:06] EU wants to negotiate solution with U.S. on aircraft subsidy row,...
[2020-08-13 07:25:06] German companies see business returning to normal in 11 months:...
[2020-08-13 07:00:09] China’s Days as World’s Factory Are Over, IPhone Maker Says
[2020-08-13 04:20:24] Australian unemployment ticks up in July, jobs surge again
[2020-08-12 21:05:28] GM proposes Brazil workforce reduction through buyouts, union...
[2020-08-12 20:10:08] U.S. July deficit falls to $63 billion on delayed tax payments
[2020-08-12 19:30:08] U.S. sells record 10-year debt to strong demand
[2020-08-12 18:50:07] ECB liquidity floods euro money market and distorts indicators
[2020-08-12 15:55:07] U.S. consumer prices accelerate in July
[2020-08-12 11:15:07] Euro zone industry output rebound disappoints for second straight...
[2020-08-12 08:20:06] UK economic output collapses by 20.4% in second quarter
[2020-08-12 07:10:07] Britons worry increasingly about job security, survey shows