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Provided by: IHS Markit. IHS Markit Canada Manufacturing PMI released its May data, revealing further expansions in output and new orders for the Canadian manufacturing sector. According to IHS, employment growth quickened to the sharpest in five months although there were further signs that sales volumes had outstripped production capacity, which resulted in another increase in backlogs. Supply chain disruption weighed slightly on output growth, with the latest deterioration in vendor performance the third most marked in the series so far, which began in October 2010. Manufacturers reported solid growth in production volumes, although the rate of expansion moderated for the second consecutive month. Virus-related restrictions persisted in key regions, although some sectors were able to resume their operations, according to panel members. ....
Dollar Turns In Mixed Performance Against Other Major Currencies WASHINGTON (dpa-AFX) - The U.S. dollar turned in a mixed performance against its peers on Tuesday, as the currencies reacted to a slew of economic data from across the globe. Data from Markit Economics showed that the IHS Markit U.S. manufacturing index in May was at 62.1 versus an initial 61.5. Manufacturing activity in the U.S. expanded at a slightly faster pace in the month of May, according to a report released by the Institute for Supply Management. The ISM said its manufacturing PMI inched up to 61.2 in May from 60.7 in April, with a reading above 50 indicating growth in the manufacturing sector. The uptick surprised economists, who had expected the index to come in unchanged. ....
Overall, the U.S. and Canada have produced nearly 11 million units, and Honda said that more than 14.2 million Civics have been sold in North America since the model was introduced for 1973. The Civic Sedan will be arriving in dealerships in North America this summer, with pricing announced closer to launch. The 2022 edition marks the Civic’s eleventh generation, and Honda said that all production in North America will use domestic and globally-sourced parts. The Civic’s 2.0L four-cylinder will be made by Honda Canada, while its turbocharged 1.5L four-cylinder will come from Honda’s plant in Ohio. Honda Canada said that, due to pandemic restrictions that prevented engineers travelling from the U.S. and Japan, its Canadian engineers had to take on a larger role in preparing the new sedan for production. This included creating a more rigid body through the extensive use of structural adhesive; the model’s first-ever use of laser brazing to join the roof and body ....
Honda Canada Manufacturing (HCM) said in a statement that its engineers “took on a larger role in preparing the 2022 Civic sedan for mass production.” ....
US steel coil prices regain upward momentum US coil prices continue their rapid ascent, after earlier indications that they were losing upward momentum. Domestic hot rolled coil prices now exceed US$1400 per short ton. Supply from the steel mills has improved slightly, with the latest capacity utilisation figure reported at 78.4 percent. Producers are catching up on order backlogs. However, buyers still struggle to replenish their inventories. Spot availability of hot rolled coil is still poor. With mill shutdowns scheduled for the summer, this situation may worsen. Demand from the automotive sector continues to exert pressure on steel supply. Activity in the construction segment, including residential and commercial buildings, continues to increase. ....