US and Canada Manufacturing Activity Beats Expectations in October and August

Key Facts

1Canadian manufacturing sales rose 1.5% in August, exceeding the expected 1.1%.

2The NY Empire State Manufacturing index surged to 25.5 in October, its highest level since December 2021.

3Canadian wholesale trade fell 1.6% in August, slightly worse than the -1.5% expectation.

The NY Empire State Manufacturing index surged to 25.5 in October 2026, marking its highest level since December 2021. Investinglive.com reported that the surge was fueled by a sharp increase in new orders and shipments despite ongoing price pressures. In Canada, manufacturing sales rose 1.5% in August 2026, exceeding the 1.1% growth expected by analysts, driven primarily by factory shipments.

The industrial strength was partially offset by Canadian wholesale trade, which fell 1.6% in August 2026, slightly worse than the -1.5% expectation. These manufacturing beats follow recent broader economic data, including the US Michigan Consumer Sentiment which reached 46.3 on October 9, 2026, and the Canadian unemployment rate which stood at 6.5% on the same date.