The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
TORONTO, Sept 5 - Canada's services economy contracted for a third straight month in August as firms employed less workers and wildfires contributed to a slowdown in new business, S&P Global Canada services PMI data showed on Thursday.
"The performance of Canada's services economy remained subdued in August, with concurrent solid declines in both activity and new business signalled by the survey," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement. The new business index fell to a six-month low of 47.6, down from 49.2 in July, while the measure of employment dropped below 50 for the first time since last December.
"Companies were also subdued when assessing the outlook, signalling concerns that borrowing costs will remain too high, despite expectations of rate cuts in the coming months," Smith said.
Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's services activity expansion slows in August, Caixin PMI showsGrowth in China's services sector activity slowed in August despite the summer travel peak, prompting some firms to cut staff amid concerns about rising...
Read more »
Canadian factory PMI rises to five-month high in AugustSlower declines in output and new orders provide 'some hope of the sector heading towards stabilisation after a prolonged downturn,' Paul Smith, economics...
Read more »
Canadian factory PMI rose to five-month high in AugustAugust was the 16th straight month the PMI was below the 50.0 no-change mark, the longest such stretch in data going back to October 2010
Read more »
Canada's Ivey PMI shows activity expanding at a slower pace in JulyThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Canada's Ivey PMI shows activity expanding at a slower pace in JulyCanadian economic activity expanded at a slower pace in July as a measure of inflation fell to a four-month low, Ivey Purchasing Managers Index (PMI) data...
Read more »
Canada’s services economy contracted for third straight month in AugustThe contraction came as firms employed less workers and wildfires contributed to a slowdown in new business
Read more »