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S&P Global Services PMI

Name: S&P Global Services PMI
Creator: TipRanks

The S&P Global Services PMI in Canada is an economic indicator that measures the performance of the services sector, which includes industries such as finance, retail, and healthcare. It is derived from a survey of purchasing managers and provides insights into business conditions, including new orders, employment, and prices. This index is important as it helps gauge the health of the Canadian economy, given that the services sector is a significant component of GDP. A PMI above 50 indicates expansion, while below 50 suggests contraction, influencing investor sentiment and financial markets.