The S&P Global Canada Composite PMI recorded 48.4 in August 2025, down from 48.7 in July, the second best so far this year, although still marking the ninth consecutive monthly contraction in private-sector activity. Both the manufacturing (48.3 vs 46.1) and services (48.6 vs 49.3) sectors posted softer downturns, with new orders continuing to fall but at a less pronounced pace than in July. Backlogs of work decreased again, with a sharp reduction that was the steepest since April. Employment stabilised, with numbers broadly unchanged across the private sector. Business confidence moderated and remained well below its long-term trend. On the price front, input-cost inflation softened to a seven-month low, while output-charge inflation slowed to its weakest pace in four months, though still registering a rise. source: S&P Global

Composite PMI in Canada decreased to 48.40 points in August from 48.70 points in July of 2025. Composite PMI in Canada averaged 49.11 points from 2020 until 2025, reaching an all time high of 56.10 points in March of 2022 and a record low of 41.70 points in April of 2025. This page includes a chart with historical data for Canada Composite PMI.

Composite PMI in Canada decreased to 48.40 points in August from 48.70 points in July of 2025. Composite PMI in Canada is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Composite PMI is projected to trend around 51.00 points in 2026 and 53.00 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
Bankruptcies 327.00 301.00 Companies Jun 2025
Business Outlook Survey Indicator -2.14 -1.16 points Mar 2025
Ivey PMI s.a 50.10 55.80 points Aug 2025
Capacity Utilization 80.10 79.70 percent Mar 2025
New Motor Vehicle Sales 177313.00 194524.00 Units Jun 2025
Changes in Inventories 26898.00 7913.00 CAD Million Jun 2025
Composite Leading Indicator 100.91 100.76 points Aug 2025
Corporate Profits 141786.00 142772.00 CAD Million Jun 2025
Corruption Index 75.00 76.00 Points Dec 2024
Corruption Rank 15.00 12.00 Dec 2024
Crude Oil Rigs 116.00 87.00 Jul 2025
Industrial Production -2.40 -0.90 percent Jun 2025
Industrial Production Mom -0.90 -0.50 percent Jun 2025
Manufacturing Production -4.40 -2.90 percent Jun 2025
Manufacturing Sales MoM 1.80 0.30 percent Jul 2025
Mining Production 0.60 1.50 percent Jun 2025
New Orders 71750302.00 67702379.00 CAD Thousand Jun 2025
CFIB Business Barometer 47.80 50.90 points Aug 2025
Wholesale Sales MoM 1.30 0.70 percent Jul 2025

Canada Composite PMI
The Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index. The weights reflect the relative size of the manufacturing and service sectors according to official GDP data. The Composite Output Index may be referred to as the ‘Composite PMI’ but is not comparable with the headline manufacturing PMI figure. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Canada Private Sector Activitty Contracts for 9th Month
The S&P Global Canada Composite PMI recorded 48.4 in August 2025, down from 48.7 in July, the second best so far this year, although still marking the ninth consecutive monthly contraction in private-sector activity. Both the manufacturing (48.3 vs 46.1) and services (48.6 vs 49.3) sectors posted softer downturns, with new orders continuing to fall but at a less pronounced pace than in July. Backlogs of work decreased again, with a sharp reduction that was the steepest since April. Employment stabilised, with numbers broadly unchanged across the private sector. Business confidence moderated and remained well below its long-term trend. On the price front, input-cost inflation softened to a seven-month low, while output-charge inflation slowed to its weakest pace in four months, though still registering a rise.
2025-09-04
Canada Private Sector Activity Remains in Contraction
The S&P Global Canada Composite PMI rose to 48.7 in July 2025 from 44.0 in June, although still marking the eighth consecutive monthly contraction in private-sector activity. Both the manufacturing (46.1 vs 45.6) and services (49.3 vs 44.3) sectors posted softer downturns, with new orders continuing to fall but at the slowest pace since January. Backlogs of work decreased again, with the mildest depletion since last November. Employment reversed course, recording marginal job losses across the private sector after modest gains in June. Business confidence strengthened to a six-month high as firms anticipated more stable market conditions. On the price front, input-cost inflation eased to a six-month low, while output-charge inflation slowed but remained in expansion territory for the third consecutive month.
2025-08-06
Canada Private Sector Activity Shrinks for 7th Month
The S&P Global Canada Composite PMI fell to 44.0 in June 2025 from 45.5 in May, marking the seventh consecutive monthly contraction in private-sector activity. Both the manufacturing (45.6 vs. 46.1) and services (44.3 vs. 45.6) sectors posted similar levels of contraction. New orders continued to fall, but the rate of decline eased to its softest since January. Backlogs of work decreased further, and marginal job gains were recorded across the private sector as firms added staff modestly. Business confidence remained subdued amid ongoing trade uncertainty. On the price front, input cost inflation edged up to a three-month high, and output charge inflation rose to its highest level since April 2024.
2025-07-04