Canada’s services economy contracts in June, hitting four-month low

Canada’s services economy contracted in June, with the S&P Global Canada services PMI pointing to weaker demand as geopolitical uncertainty and elevated prices weighed on activity. The update signals softer near-term growth momentum, consistent with a cautious consumption backdrop.

Analysis

Canada’s services economy contracted in June, with the S&P Global Canada services PMI pointing to weaker demand as geopolitical uncertainty and elevated prices weighed on activity. The update signals softer near-term growth momentum, consistent with a cautious consumption backdrop.