S&P Global Canada Services PMI rises slightly to 47.8 in August from 47.3 in JulyComposite PMI came in at 47.8 in August, up from 47.0 but still indicating overall private sector contractionThird consecutive month of contraction in service sector activityNew business volumes decline at steepest pace in six monthsEmployment falls for first time in 2024Input cost inflation remains high, driven by wage pressuresBusiness confidence slips to 7-month low
The Canadian service sector remained in contraction territory for the third straight month in August, with the S&P Global Canada Services PMI edging up to 47.8 from 47.3 in July. While the pace of decline eased slightly, the sector continues to face headwinds from weak demand.
This article was written by Adam Button at www.forexlive.com.
