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The S&P Global Canada Manufacturing PMI climbed to 53.3 in April 2026 from 50.0 in March, signaling the strongest improvement in operating conditions since June 2022. Output increased at its fastest pace since May 2022, while new orders grew at the quickest rate in more than four years, supported by a sharp rise in new export orders—the strongest since early 2022. This surge in demand was largely driven by client stockpiling amid concerns over product availability, supply chain disruptions, and price pressures linked to the conflict in the Middle East. Purchasing activity rose at its steepest rate since June 2022, employment edged up, and supplier delivery times lengthened at the sharpest rate since March 2025. On the price front, input costs increased at the fastest pace in more than three-and-a-half years, with higher fuel and freight transportation costs adding to inflationary pressures. Business confidence also strengthened, reaching a 16‑month high.
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