Canada's service sector continues to contract, private sector output falls

seekingalpha09-05

The S&P Global Canada Composite PMI edged up to 47.8 in August 2024 from 47.0 in July, but remained in contraction in private sector activity for the third consecutive month. This decline was driven ...

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This decline was driven ...</p>\n\n<a href=\"https://seekingalpha.com/news/4147308-canadas-composite-services-pmi-rises-in-august\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FLCA","symbol_name":"Franklin FTSE Canada ETF","start_time":0,"source_url":"https://seekingalpha.com/news/4147308-canadas-composite-services-pmi-rises-in-august","article_id":"2465547945","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/184399449/image_184399449.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2465547945","pubTimestamp":1725543670,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"The S&P Global Canada Composite PMI edged up to 47.8 in August 2024 from 47.0 in July, but remained in contraction in private sector activity for the third consecutive month. This decline was driven by comparable downturns in both manufacturing and services, with new orders dropping at the sharpest pace since February.  Services PMI in Canada increased to 47.80 points in August from 47.30 points in July 2024. \"The performance of Canada’s services economy remained subdued in August, with concurrent solid declines in both activity and new business signalled by the survey. Firms bemoaned slow market conditions and a general lack of demand, with some also commenting that wildfires were having a negative impact on their businesses,\" Paul Smith, Economics Director at S&P Global Market Intelligence said.  ETFs: , . 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Firms bemoaned slow market conditions and a general lack of demand, with some also commenting that wildfires were having a negative impact on their businesses,\" Paul Smith, Economics Director at S&P Global Market Intelligence said.  ETFs: (EWC), (FLCA). 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