SPGlobal Canada providers PMI
Composite PMI 51.5 vs 50.7 prior Companies PMI rises to 51.2 from 50.4 in October, highest since April 2023Employment development hits 14-month highInput prices stay elevated regardless of slowing from October peakExport orders decline accelerates amid international conflicts and price pressures
Paul Smith, Economics Director at S&P International Market
Intelligence, stated:
“November proved to be a comparatively optimistic month for
the Canadian service sector, with exercise rising for a
second successive month and to a stronger diploma than
in October. Nevertheless, the upturn was restricted to some
extent by virtually no development in new enterprise volumes, and
companies stay involved over the underlying power of
enterprise circumstances regardless of the stimulative affect on
financial exercise of decrease rates of interest.
“That stated, companies retain some confidence within the outlook
amid hopes of a extra steady geopolitical surroundings
and additional reductions in borrowing prices within the 12 months
forward. Nevertheless, it’s price noting that the most recent
survey passed off earlier than US President-elect Trump’s
announcement of modifications to US commerce coverage in 2025.
Though the scope and nature of tariffs on Canadian
items and providers stays unsure at this stage,
already fragile confidence and financial development is probably going
to be hit once more within the coming months.”
