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CANADA DATA: Services PMI Slips Further To Contradict Mfg Improvement

CANADA DATA
GlobalCanadaData BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsRegionNorth America
  • "*CANADA S&P GLOBAL SEPT. SERVICES PMI AT 46.4 VS 47.8 PRIOR
  • *CANADA S&P GLOBAL SEPT. COMPOSITE PMI AT 47 VS 47.8 PRIOR" - bbg
  • The press release details the extent of deteriorating performance: "The performance of Canada’s services economy continued to deteriorate during September, with activity and new business declining at accelerated rates. Weak underlying demand was reported as clients remained reticent to commit to new contracts given geopolitical uncertainty and expectations of lower interest rates. Amid further evidence of spare capacity in the sector, employment declined at an accelerated rate.”
  • Whilst rate of input and output price inflation cooled further: “Input prices continued to rise markedly in September, largely due to increased wage and labour related expenses. That said, the rate of inflation was the weakest for three months and amongst the slowest registered by the survey in the past three-and-a-half years. Output price charges similarly rose at a weaker pace, with the rate of inflation also the slowest since June.”
  • “However, confidence in the outlook brightened, with sentiment its highest since March”
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  • "*CANADA S&P GLOBAL SEPT. SERVICES PMI AT 46.4 VS 47.8 PRIOR
  • *CANADA S&P GLOBAL SEPT. COMPOSITE PMI AT 47 VS 47.8 PRIOR" - bbg
  • The press release details the extent of deteriorating performance: "The performance of Canada’s services economy continued to deteriorate during September, with activity and new business declining at accelerated rates. Weak underlying demand was reported as clients remained reticent to commit to new contracts given geopolitical uncertainty and expectations of lower interest rates. Amid further evidence of spare capacity in the sector, employment declined at an accelerated rate.”
  • Whilst rate of input and output price inflation cooled further: “Input prices continued to rise markedly in September, largely due to increased wage and labour related expenses. That said, the rate of inflation was the weakest for three months and amongst the slowest registered by the survey in the past three-and-a-half years. Output price charges similarly rose at a weaker pace, with the rate of inflation also the slowest since June.”
  • “However, confidence in the outlook brightened, with sentiment its highest since March”