Canada’s seasonally adjusted Ivey Purchasing Managers Index (PMI) for February 2026 came in at 56.6, surpassing the consensus estimate of 50.5. The February reading increased sharply from January’s 50.9, marking a 5.7-point rise month-over-month. This move returns the index well above the 50 threshold, signaling renewed expansion in Canadian economic activity after a period of near-stagnation. The gain was primarily driven by stronger activity in the services sector, which offset recent softness in manufacturing. Compared to the 12-month rolling average of 51.82, February’s result stands out as a significant improvement and aligns with broader themes of resilience in Canada’s economic momentum. Markets will monitor upcoming Bank of Canada communications for any response, as well as next month’s PMI release for confirmation of this rebound. Updated 3/6/26