New data PMI (Feb)
3/6/2025
actual 55.3, previous 47.1
The Purchasing Managers' Index (PMI) for Canada in February was released with a value of 55.3. This indicates an increase of 8.2 points from the previous value of 47.1. The PMI is a key economic indicator that measures the health of the manufacturing sector.A PMI value above 50 indicates expansion in the manufacturing sector, while a value below 50 indicates contraction. In this case, the PMI of 55.3 suggests a significant improvement in manufacturing activity in Canada compared to the previous month.
This event is considered to have a medium impact on the Canadian economy and the value of the Canadian Dollar (CAD). Traders and investors may use this information to assess the strength of the Canadian manufacturing sector and make decisions based on the outlook for the economy.
This is not investment advice. Remember to verify the information provided here.
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