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Canada CAD

Canada S&P Global Services PMI

Info

History

Chart

Impact:

Low

Source: S&P Global

Latest Release:

Date:

Surprise:

0.2

Actual:

51.2

Forecast: 51

Previous/Revision:

50.4

Period: Nov

Next Release:

Date:

Period: Dec

What Does It Measure?

The S&P Global Services Purchasing Managers' Index (PMI) measures the economic health of the services sector within Canada, explicitly assessing aspects such as business activity, new orders, employment levels, supplier deliveries, and inflationary pressures. As a national indicator, it provides key insights into the overall performance and sentiment in the service industries, with a PMI reading above 50 signaling expansion and below 50 indicating contraction.

Frequency

The S&P Global Services PMI is released monthly, typically published on the first working day of the month following the survey period, and serves as a preliminary estimate of economic conditions.

Why Do Traders Care?

Traders pay close attention to the S&P Global Services PMI because it serves as a leading indicator of economic activity in the services sector, influencing market expectations for growth. Positive results or readings higher than forecast can boost investor sentiment, leading to appreciation in the Canadian dollar and strength in equities, while weaker results may induce caution and lead to bearish sentiment in financial markets.

What Is It Derived From?

The PMI is derived from a monthly survey of purchasing managers in the services sector, where respondents provide insights on business conditions, new orders, and employment figures. The index is calculated using a weighted average of the various components, with a diffusion index methodology that reflects the percentage of respondents reporting improvement compared to the previous month.

Description

The S&P Global Services PMI is a crucial economic indicator as it highlights trends in the services industry, which is a significant component of Canada's economy. It is a preliminary report reflecting the current conditions based on recent data, providing timely information that investors and policymakers can react to rapidly.

Additional Notes

The S&P Global Services PMI is typically viewed as a leading indicator as it can predict future economic activity and trends within the services sector. It holds relevance not only for national economic health but also in comparison to other indicators like the manufacturing PMI, offering a comprehensive view of the economic landscape and its dynamic interactions.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for CAD, Bullish for Stocks. Lower than expected: Bearish for CAD, Bearish for Stocks. Hawkish tone: Signaling higher interest rates or inflation concerns, is usually good for the CAD but bad for Stocks due to higher borrowing costs.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Dec 03, 2025		50.6
Nov 05, 2025		47
Oct 03, 2025		49
Sep 04, 2025		45.1
Aug 06, 2025		45
Jul 04, 2025		47
Jun 04, 2025		43
May 05, 2025		41
Apr 03, 2025		46
Mar 05, 2025		49.5
Feb 05, 2025		49
Jan 06, 2025		51.5
Dec 04, 2024	51.2	51	50.4	0.2
Nov 05, 2024	50.4	47	46.4	3.4
Oct 03, 2024	46.4	48.6	47.8	-2.2
Sep 05, 2024	47.8	47.8	47.3
Aug 06, 2024	47.3	46.8	47.1	0.5
Jul 04, 2024	47.1	51.3	51.1	-4.2
Jun 05, 2024	51.1	49.7	49.3	1.4
May 03, 2024	49.3	47.7	46.4	1.6
Apr 03, 2024	46.4	47.2	46.6	-0.8
Mar 05, 2024	46.6	46.5	45.8	0.1
Feb 05, 2024	45.8	44.3	44.6	1.5
Jan 04, 2024	44.6	44	44.5	0.6
Dec 05, 2023	44.5	46	46.6	-1.5