National Post (Latest Edition)

Factory activity motors to 2-year high in September

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Canadian manufactur­ing activity expanded in September at its fastest pace in more than two years as easing of COVID-19 restrictio­ns helped boost demand from both domestic and export markets, data showed on Thursday. The IHS Markit Canada Manufactur­ing Purchasing Managers’ index ( PMI) rose to a seasonally adjusted 56.0 in September, its highest level since August 2018, from 55.1 in the prior month. A reading above 50 indicates expansion in the sector. It was the fifthstrai­ght month the index has climbed. It bottomed at a record low of 33.0 in April. “Overall, the health of the Canadian manufactur­ing sector continued to strengthen in September, as has been the case throughout the third quarter,” Shreeya Patel, an economist at IHS Markit, said in a statement.

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