Manufacturing growth in Canada sees 6th consecutive monthly riseClick image to enlarge

Canada's manufacturing industry continues to perform well with March marking the sixth consecutive month in which production and new orders picked up, while employment hit its highest level in close to five years, according to data from the Markit Canada Manufacturing Purchasing Managers' Index (PMI).

The PMI inreased to a seasonally adjusted 55.5 in March from 54.7 in February. A reading above 50 shows growth in the sector.

The figures were the latest to point to a strong start to the year for Canada after better-than-expected growth in January put the economy on track for a solid first quarter.

Companies said they saw stronger domestic demand in March, particularly among the energy sector, which is recovering from the collapse in oil prices.

That helped new orders edge up to 56.4 from 56.0, though new export orders were unchanged at 51.0. The measure of output rose to 56.7 from 55.2.

Employment rose to its highest level since June 2012 at 54.6 from 54.3, which could bode well for the wider labor market report due on Friday. ECONCA

But input prices also rose as companies were pinched by the strong U.S. dollar and higher raw materials prices. The index was up at 63.7 from 61.3.

Source: With files from Markit, Reuters

Similar Articles

Near-record growth for MAG: US $1.6 B in 2011

In the ongoing good-news story about the manufacturing sector, MAG's global results indicate that the resurgence isn't just a North American one. MAG IAS (MAG Americas) and MAG Europe reports near-record growth in bookings and sales in 2011 and year-end bookings are expected to reach close to US $1.6 billion for the combined companies.

Big turnout for BC machine tool open house

In yet another sign that the manufacturing industry is in revival mode, 300 people attended an open house at Thomas Skinner's Vancouver, BC, branch, "the best turn-out in years," says Don Babineau, vice president of operations.

Bombardier forecast: 24,000 deliveries; $626 B revenue

Bombardier sees a bright horizon for its business aircraft business. It predicts it will deliver 24,000 jets worth $626 billion in its 20-year industry delivery forecast.

Manufacturing in 2012 and beyond

There are some people that think manufacturing is somehow an archaic industry that must be replaced by better industries in growing sectors such as information technology or resources.

 

Stay In Touch

twitter facebook linkedIn