Canada's services PMI shows sector shrinking for fifth straight month
SPY•SPY•SPY•SPY•Canada's services economy contracted for a fifth straight month in October, with the business activity index at 48.1, down from 48.3 in September. New business and future activity sentiment also weakened, while input prices rose to a three-month high.
Canada's services economy contracted for a fifth straight month in October as trade uncertainty and rising prices weighed on activity. The business activity index edged down to 48.1 from 48.3 in September; readings below 50 indicate contraction.
The new business index fell to 48.0 from 48.5, and new export business posted its steepest decline since November 2025. The future activity index dropped to 57.7 from 61.4, with sentiment remaining historically subdued.
The input prices index rose to 63.9 from 62.2, its highest in three months, while prices charged held at 53.4. The composite PMI declined to 48.1 from 48.7, and manufacturing PMI fell below 50 for the first time this year, to 49.6 from 51.5.
