Figures released Wednesday morning showed manufacturers in this country reported a strong start to 2017, with business conditions improving at the fastest pace for just over two years.
The seasonally adjusted Markit Canada Manufacturing Purchasing Managers’ Index (PMI) registered 53.5 in January, up from 51.8 in December and -- more to the point -- above the neutral 50.0 threshold for the 11th straight month.
Moreover, Markit said, the headline PMI pointed to the strongest upturn in operating conditions for just over two years.
The upturn in PMI reflected strong rates of output and new order growth in January, alongside a sustained rise in staffing levels. Looking ahead, around 41% of the survey panel anticipate an increase in production volumes over the next 12 months, while only 6% forecast a reduction.
As a result, this signaled one of the most upbeat expectations for output growth since early 2014.
