Pgiam
- Composite PMI in Canada increased to 46.30 points in January from 44.70 points in December of 2023.
- The S&P Global Canada Services PMI posted 45.8 in January, up from November’s 44.6, but still marking the eighth consecutive month of contraction in the country’s services sector.
- “January’s survey data highlight an economy continuing to splutter at the start of the new year,” Paul Smith, Economics Director at S&P Global Market Intelligence, said.
- “Weak market demand, weighed down by high interest rates and a reticence amongst clients to commit to new work, was again widely reported by panellists and resulted in another noticeable contraction in business activity.”
