- Prior was 52.2
The Canadian dollar will be trading on economic data today.
Commenting on the latest survey results, Paul Smith, Economics Director at S&P Global Market Intelligence said:
"January’s survey highlighted the complex impact that possible US tariffs are presently having on the Canadian manufacturing economy. Firms noted that clients in some instances were bringing forward their orders to get ahead of these potential tariffs, and output amongst manufacturers was being raised in response. Firms even took on additional staff to help service additional workloads, and this helped them to keep on top of their current orders.
"However, the threat of tariffs from the US is leading to a huge amount of uncertainty in product markets, and firms are growing increasingly concerned about a potential trade war with a key trading partner. Subsequently, confidence in the outlook dropped quite noticeably in January, whilst growth rates for both output and new orders deteriorated since the end of 2024."
