Canada: PMI Climbs to 55.1 in August

The economic activity in Canada’s manufacturing sector expanded at a stronger pace in August than it did in July with the IHS Markit’s Manufacturing PMI rising to 55.1 from 50.4. This reading beat the market expectation of 50.4.

“Latest data highlighted a strong upturn in the Canadian manufacturing industry, continuing the recovery from the severe second-quarter downturn,” noted Shreeya Patel, Economist at IHS Markit.