Canadian services business activity hits 14-month low in October

TORONTO, Nov 3 - Contraction in Canada's service sector deepened in October as inflation and higher borrowing costs weighed on new business activity, data from the first public release of the S&P Global Canada services PMI showed on Friday.

The data"showed that the nation's vast services economy, the key contributor to overall economic output in Canada, remained mired in contraction territory during October," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement. The new business index fell to 47.6 from 48.7 in September, pressured by increases in the cost of living and interest rates.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Canadian services business activity hits 14-month low in OctoberContraction in Canada's service sector deepened in October as inflation and higher borrowing costs weighed on new business activity, data from the first...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »

Canadian services business activity hits 14-month low in OctoberExplore stories from Atlantic Canada.
Fonte: SaltWire Network - 🏆 45. / 63 Consulte Mais informação »

StatCan to release data on how Canada’s job market did in OctoberThe Bank of Canada's aggressive interest rate hikes have dampened economic growth this year as people and businesses pull back on spending.
Fonte: GlobalCalgary - 🏆 50. / 61 Consulte Mais informação »