Canada services PMI climbs to 10-month high in April
- Canada's services sector contracted at a slower pace in April as firms notched some unexpected sales and added workers, but increased wages led to inflation pressures heating up, S&P Global Canada services PMI data showed on Friday.
"Another fall in activity during April reinforced the general underlying weakness that pervades the Canadian services economy," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement. "But there was some positivity to be found in the survey data." The prices charged sub-index rose to a nine-month high of 56.3 from 54.7 in March and the measure of input prices was at 60.3, easing only slightly from 61.0. Firms said that the recent increase in the carbon tax had raised fuel costs.
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