The S&P Global Canada Manufacturing PMI slipped to 53.0 in August 2026 from 53.5 in July, but remained above the 50.0 no-change threshold for a fifth consecutive month. Both production and new orders rose for the fifth month in a row, with output expanding at its fastest rate since April. Employment also increased, with job creation reaching its strongest pace since October 2024. Manufacturers stepped up purchasing activity and slightly expanded input inventories, partly due to precautionary buying in response to concerns about prices and product availability. While input cost inflation remained elevated, it eased somewhat, and output price inflation also moderated from July’s level. At the same time, business confidence improved in August, climbing to its highest level since late 2024.