As Haydar reports, there was a spectacular increase in purchase orders of 81% in the first three quarters of this year. Compared to the same three quarters in 2010, there was a 72% growth in CNC metal cutting machine tool orders, 49% increase in manual metal cutting machine tool orders, 155% increase in CNC metal forming machine tool orders, and a 44% increase in manual metal forming machine tool orders.

With the positive also came the cautious. Haydar notes that margins are lower and competition is stiff. At the same time, he notes that in the drive to compete globally, Canadian manufacturers are investing in new equipment.

“A low Canadian currency during the past two decades has allowed Canadian manufacturers to make gains internationally without investing in more efficient technology,” says Haydar. “Now that our dollar hovers around parity with the US dollar, Canadian manufacturing companies are struggling to balance the productivity gap between Canada and the US by investing in new machinery – and this is ultimately is good for all of us.”

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