Canadian Measures Show Steady Growth

By: Tomas Ronolski - AllPennyStocks.com News

Friday, December 3, 2021

Recent data shows that supply chain disruptions and pricing pressures failed to have a material impact on Canadian producer prices and manufacturing activity.

The Raw Materials Price Index, a measure of price changes for raw materials purchased for further processing by manufacturers operating in Canada, advanced 4.8 percent in October after falling 2.4 percent in September. On an annual basis, the index rose 38.4 percent in October following a revised 32.4 percent increase in September.

Likewise, Canadian manufacturing activity, an overview of production, was slightly lower than October’s pace but still registered a robust pace in November.

The IHS Markit Canada Manufacturing Index is compiled from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. In October, the Index dipped to a seasonally adjusted 57.2 in November from 57.7 in October. Any number above 50 indicates growth and the index has steadily been above 50 since July 2020.

The purchasing managers are questioned on five main parameters: production, new orders, supplier deliveries, inventory levels and employment environment. Optimism among manufacturers fell to the lowest since July, but was still above the long-term average.

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