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Canada's services PMI hits six-month low as trade tensions grow
New business in Canada’s services sector fell to 46.1 as U.S. tariffs and trade tensions curbed demand, S&P Global said.
- Canada's services economy contracted at its steepest pace in six months in August, with the Business Activity Index falling to 46.8, its lowest level since February.
- Escalating trade tensions—including new 50% tariffs on $20 billion of Canadian imports imposed on August 22—and geopolitical instability in the Middle East weighed on the sector.
- New business volumes fell to 46.1, the lowest level since January, while the Global Canada Composite Purchasing Managers dropped to 47.8 last month, driven by weakness in services.
- Data released on Tuesday showed the Global Canada Manufacturing Purchasing Managers edged down to 53.0, indicating expansion for a fifth straight month despite broader challenges.
- Confidence about the future reached its lowest level in over a year, as the future activity index declined to 56.4 from 57.5, with rising prices threatening business performance.
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Canada's services PMI hits six-month low as trade tensions grow
Canada's services economy contracted at its steepest pace in six months in August as rising trade tensions and geopolitical instability weighed on new business, S&P Global's Canada services PMI data showed on Thursday.
·London, United Kingdom
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Total News Sources5
Leaning Left0Leaning Right1Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
C 80%
R 20%
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