S&P Global Canada April manufacturing 56.2 vs 58.9 prior

• 14-month low
• Prior was 58.9 (was a record high)
• Input price inflation moderated from March's peak
• Selling inflation was second-strongest in series history (trailing March)

Shreeya Patel, Economist at S&P Global, said:

"The start of the second quarter of 2022 yielded another favourable month of trading for Canadian manufacturers. Demand conditions were supportive and continued to underpin a solid improvement in operating conditions. As has been the case over the last year or so, consumer demand remains strong despite elevated rates of inflation.

"However, capacity constraints have persisted and firms look to be struggling with labour shortages. Recent geopolitical developments have also exacerbated costs, particularly for fuel and raw materials. At the same time, anecdotal evidence often mentioned shortages of trucks which could further impact production in the future.

"Nevertheless, Canada's manufacturing sector has performed strongly despite supply bottlenecks, COVID-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Read this Term and increasing uncertainty. Firms remain prepared and continue to foresee output growth over the coming months."