Canada’s services economy contracted for a second straight month in July as economic uncertainty depressed market demand and business sentiment, S&P Global’s Canada services PMI data showed on Thursday.
Key Findings
The headline Business Activity Index rose to 49.1 last month from 47.1 in June, but it signaled a contraction by remaining below the 50 no-change mark. The New Business Index remained below the 50 threshold for a third straight month.
The Input Prices Index rose to 64.0 from 61.2 in June. The prices charged measure also edged higher. The S&P Global Canada Composite Purchasing Managers’ Index rose to 49.7 last month from 47.9 in June, weighed down by the decline in service sector activity.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
