Canada Services Sector Shrinks in October
Canadas services economy contracted for a fifth consecutive month in October as ongoing trade uncertainty and rising prices weighed on business activity. The headline index edged lower to 48.1 amid falling export demand and elevated cost pressures.
Insights:
Canada's services economy contracted for a fifth consecutive month in October as trade uncertainty and rising prices weighed on activity, with the Business Activity index edging down to 48.1. The reading extends a streak of sub-50 figures since June, according to S&P Global data released on Wednesday. The persistent contraction highlights mounting pressures on the domestic service sector amid ongoing cross-border trade friction.
