February Markit Canada purchasing managers' index
- Prior was 55.9
- Full report
Comments in the report:
- "Robust rises in output and new orders contributed to the sharpest pace of job creation for six months"
- "Manufacturing production growth slowed from January's six-month peak, but remained stronger than the average since the survey began in 2010."
- "New orders from abroad expanded at the strongest rate since November 2014, which manufacturers linked to increased sales to US clients and a more supportive global economic backdrop."
- "There were signs of capacity pressures across the Canadian manufacturing sector in February, with backlogs of work accumulating at the steepest pace in almost seven-and-a-half years of data collection."
One line of thinking on the US tax cut is that much of the benefits will go abroad because the US is already operating near full capacity. The jump in export order for Canadian manufacturers is some early evidence.
