According to IHS Markit, Canadian Manufacturing PMI fell slightly to 57.2 in November from 57.7 in October. That was slightly more than the expected decline to 57.4. 

Commenting on the latest survey results, Shreeya Patel, Economist at IHS Markit, said: "The penultimate month of 2021 continued to indicate strong growth in Canada's manufacturing sector. Overall, Canada’s manufacturing sector performed well in November. Growth has certainly been hindered by transportation bottlenecks, material scarcity and intense cost pressures, but firms remain confident that such issues will subside in 2022."

Market Reaction

The loonie has not seen any reaction to the latest PMI numbers, which showed the manufacturing sector remaining in robust health.