Canada Services PMI Slips to 48.6 in August, Extending Downturn
Activity in Canada's services industry deteriorated slightly more steeply last month, sustaining a downturn as uncertainty over trade policy remains heightened, data released Thursday showed.
The S&P Global Canada services purchasing managers index slipped to 48.6 in August. That marked an ninth straight month the measure has been below the 50 threshold separating expansion from contraction, with the pace steepening from July's reading of 49.3.
"Uncertainty, especially related to tariffs, continued to have a noticeable detrimental impact on market activity and demand," Paul Smith, economics director at S&P Global Market Intelligence, said. "Unsurprisingly, tariff uncertainty also weighed on firms' own...
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