S&P Global data (via Trading Economics) shows PMI rose to 51.0, a 13-month high with new orders growth offsetting export declines from US tariffs.
The S&P Global Canada Manufacturing PMI rose to 51.0 in February 2026 from 50.4 in the previous month, marking the second month of improvement and recording a 13-month high. Output stabilised in the period even as new order inflows returned to growth for the first time in over a year, with domestic demand helping to offset a sustained decline in export sales amid ongoing headwinds from US tariffs. Consequently, improved order books gave way to the fastest rise in staffing levels for 13 months, as firms boosted capacity in response to greater workloads and expansion plans. Meanwhile, input price inflation accelerated to a six-month high, driven by rising costs for steel and aluminum, and pushed firms to raise their output charges to the greatest degree since March 2025. Looking forward, confidence in future output improved to the highest level since December 2024.
The IHS Markit Canada Manufacturing Purchasing Managers’ Index™ measures the performance of the manufacturing sector. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global.
Contact economics@spglobal.com for more details.source: S&P Global
