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- 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." "Inflation rates remain too high ... Costs are in part being driven up by higher salary demands, whilst firms are raising their own charges at a faster rate," Smith said.
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