According to CoinMeta, Canada's manufacturing sector PMI reached its highest level in four years in the latest S&P P Global data, with the manufacturing industry performing most strongly since June 2022. Both output and new orders have accelerated, and employment has risen for the fourth consecutive month. Despite the Canadian dollar being near a four-year low, the domestic market remains stable. Input prices have risen at the fastest pace in four years, continuing the upward trend since the end of 2025. The company pointed out that energy, transportation, and steel are the main driving factors, while tariffs and conflicts in the Middle East are the root causes of international demand. Despite the overall strong performance, market confidence has dropped to a four-month low and is far below trend levels. Paul Smith from S&P summarized that the current situation is positive, but whether growth can continue is "doubtful" given weak international demand and rapidly rising prices.