PMI Higher for October

The economy seems to be hanging in there, according to figures released Friday morning.

At 51.2 in October, up from 51.0 in September, the seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index® posted above the crucial 50.0 no-change value for the second month running. The latest reading was the highest since February, but signalled only a marginal improvement in overall operating conditions.

Markit added faster rates of output and new order growth boosted the headline PMI in October, more than offsetting a slightly weaker contribution from the employment component.