After Canada, India and South Korea recorded the largest improvements. Credit: Adobe Stock/Negro Elkha.

Following improved reporting around oil sand output and mining investment, Canada led gains globally in confirmed industrial‑production sentiment last week, according to data collected by Permutable AI.

Canada’s sentiment score rose by 0.76 in the seven days ending Aug. 2, 2026 compared with the preceding week. The score is a directional measure comparing average sentiment per matched headline to show whether reporting leans toward higher production, new capacity or better operating conditions.

“Canada’s rise was led by resources rather than a factory-wide rebound,” said Jack Watson, a market analyst at Permutable. “That distinction is key because resource-led growth can support capital spending, infrastructure, regional employment and exports without necessarily indicating that consumer-facing manufacturing or the wider factory economy is recovering at the same pace.” 

Although the momentum mostly came from recent reporting regarding oil sands production, last week's mining stories — including Crawford’s federal approval, the Equinox–Orla merger and new leadership at Anglo Teck —  provided a secondary source of movement.

According to Permutable, Canada’s position at the top of the ranking is eIndvidence of the strong industrial-production sentiment among the countries assessed, rather than proof that all areas of Canadian industry are accelerating.

After Canada, India and South Korea recorded the largest improvements.

Permutable is a financial technology company that uses artificial intelligence (AI) to track global reporting.