New data S&P Global Services PMI (Aug)
9/5/2024
actual 47.8, previous 47.3
The event is the S&P Global Services PMI (Purchasing Managers' Index) for August in Canada. The actual PMI value reported is 47.8, which is a slight increase of 0.5 from the previous value of 47.3. This economic indicator is considered to have a high impact as it provides insight into the economic health of the services sector in Canada. A PMI value below 50 typically indicates a contraction in the sector, while a value above 50 suggests expansion. In this case, the PMI of 47.8 indicates a contraction in the services sector, but the slight increase from the previous month may be seen as a positive sign.This is not investment advice. Remember to verify the information provided here.
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