S&P Global to Launch S&P Global Canada Services PMI® November 3, 2023

Rhea-AI Summary

S&P Global Market Intelligence has launched the S&P Global Canada Services Purchasing Managers' Index (PMI), completing the coverage for all G-7 countries. The PMI series is a widely followed global business survey used by central banks, financial markets, and business decision-makers. The Canada Services PMI will provide timely visibility into the performance of the private services sector, which contributes around half of Canada's GDP. It will cover both business and consumer services, excluding retail.

Launch completes manufacturing and services PMI coverage for G-7 economies

NEW YORK, Oct. 31, 2023 /PRNewswire/ -- S&P Global Market Intelligence, a provider of information services and solutions to global markets, today announced the launch of the S&P Global Canada Services Purchasing Managers' Index^® (PMI^®). With the addition of the Canada Services indicator, S&P Global now produces a Manufacturing and Services Purchasing Managers' Index for all Group of 7 (G-7) countries.

The S&P Global PMI series, produced by S&P Global Market Intelligence, is one of the most closely watched global business surveys, used by central banks, financial markets and business decision-makers for their ability to provide up-to-date, reliable and consistent monthly indicators on economic trends for more than 40 countries.

"The vast private services sector, ranging from hotels, hair salons and restaurants to banks, IT firms and management consultancies, contributes around half of Canada's GDP, but high-frequency data and timely visibility into the sector's performance has thus far been limited compared to other sectors, such as manufacturing, which accounts for less than one-tenth of GDP," said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. "It is also the part of the economy that tends to be most sensitive to changes in interest rates. The Canada Services PMI will provide markets and policy makers with an internationally comparable indicator to better understand changing business conditions in this exciting and important part of the economy."

Based on survey responses from approximately 400 service sector companies, the PMI will cover both business and consumer services (excluding retail), encompassing hotels and restaurants, travel and transport, information and communication, finance and insurance, professional services, real estate and all other privately-provided services.

The S&P Global Canada Services PMI will be released:

2023

• November 3rd
• December 5th

2024

• January 4th
• February 5th
• March 5th
• April 3rd
• May 3rd
• June 5th

A calendar of upcoming PMI releases is available here. Click here to learn more about the S&P Global PMI.

S&P Global Market Intelligence's opinions, quotes, and credit-related and other analyses are statements of opinion as of the date they are expressed and not statements of fact or recommendation to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security.

About S&P Global Market Intelligence

At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. Our team of experts delivers unrivaled insights and leading data and technology solutions, partnering with customers to expand their perspective, operate with confidence, and make decisions with conviction.

S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.

Media Contact 
Katherine Smith
S&P Global Market Intelligence
+1 781-301-9311
katherine.smith@spglobal.com 

 

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SOURCE S&P Global Market Intelligence

FAQ

What is the S&P Global Canada Services PMI?

The S&P Global Canada Services PMI is an indicator that provides monthly data on the performance of the private services sector in Canada.

Who produces the S&P Global PMI series?

The S&P Global PMI series is produced by S&P Global Market Intelligence.

What is the significance of the PMI series?

The PMI series is widely used by central banks, financial markets, and business decision-makers as it provides up-to-date and reliable indicators on economic trends.

Which sectors are covered by the Canada Services PMI?

The Canada Services PMI covers both business and consumer services, excluding retail. It includes sectors such as hotels and restaurants, travel and transport, information and communication, finance and insurance, professional services, real estate, and other privately-provided services.

When will the S&P Global Canada Services PMI be released?

The PMI will be released on November 3rd, December 5th, and in 2024 on January 4th, February 5th, March 5th, April 3rd, May 3rd, and June 5th.

Where can I find the calendar of upcoming PMI releases?

You can find the calendar of upcoming PMI releases by clicking here.