Canadian services sector PMI drops to six-month low in September, signaling economic decline.

In September, Canada's services sector saw a significant decline, with the S&P Global Services PMI dropping to 46.4, marking a six-month low. New business volumes fell to their lowest since December 2020, and employment measures also decreased. Despite these negative trends, a future activity index rose to a six-month high, suggesting optimism ahead. This data supports the Bank of Canada's plans for looser monetary policy, with anticipated interest rate cuts.

October 03, 2024
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