Canadian factory sector growth jumps to two-year high in August

The IHS Markit Canada Manufacturing Purchasing Managers’ index rose to a seasonally adjusted 55.1 in August, its highest level since the same month two years ago, from 52.9 in July. A reading above 50 indicates expansion in the sector.

The data “highlighted a strong upturn in the Canadian manufacturing industry, continuing the recovery from the severe second quarter downturn,” Shreeya Patel, an economist at IHS Markit, said in a statement. On Friday, a flash estimate from Statistics Canada showed that Canada’s gross domestic product increased 3% in July, edging economic activity closer to pre-pandemic levels.

Looks like Canada has nice factoriys - Horrace

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