The S&P Global Canada Services PMI rose to 46.5 in February 2026 from 45.8 in January, signaling a slower pace of contraction in activity. New orders declined for the 15th consecutive month, though the rate of decline was the weakest since October 2025. With demand still weak, firms either chose not to replace departing workers or resorted to layoffs, pushing employment down for the sixth straight month. Input price inflation continued to ease, reaching its lowest level since September 2024, while output prices rose slightly faster, though still well below input cost levels. Business confidence edged up to its highest since October 2025, fueled by hopes that demand will improve, partly due to upcoming sporting events expected to boost tourism in Canada. source: S&P Global

Services PMI in Canada increased to 46.50 points in February from 45.80 points in January of 2026. Services PMI in Canada averaged 48.63 points from 2020 until 2026, reaching an all time high of 56.10 points in March of 2022 and a record low of 41.20 points in March of 2025. This page includes a chart with historical data for Canada Services PMI.

Services PMI in Canada increased to 46.50 points in February from 45.80 points in January of 2026. Services PMI in Canada is expected to be 48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Services PMI is projected to trend around 52.00 points in 2027, according to our econometric models.



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Bankruptcies 288.00 260.00 Companies Jan 2026
Business Outlook Survey Indicator -1.78 -2.27 points Dec 2025
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Capacity Utilization 78.50 78.90 percent Dec 2025
New Motor Vehicle Sales 114415.00 126983.00 Units Jan 2026
Changes in Inventories -10099.00 13364.00 CAD Million Dec 2025
Corporate Profits 150155.00 151381.00 CAD Million Dec 2025
Corruption Index 75.00 75.00 Points Dec 2025
Corruption Rank 16.00 15.00 Dec 2025
Crude Oil Rigs 152.00 128.00 Feb 2026
Industrial Production -0.60 -1.70 percent Dec 2025
Industrial Production Mom 1.00 -0.90 percent Dec 2025
Manufacturing Production -2.20 -5.60 percent Dec 2025
Manufacturing Sales MoM -3.00 0.60 percent Jan 2026
Mining Production 1.50 3.70 percent Dec 2025
New Orders 68901901.00 71439257.00 CAD Thousand Jan 2026
CFIB Business Barometer 64.80 59.30 points Feb 2026
Wholesale Sales MoM -1.00 1.80 percent Jan 2026


Canada Services PMI
The S&P Global Canada Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Survey responses indicate the direction of change compared to the previous month. The indices vary between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The headline figure is the Services Business Activity Index, which is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Canada Services Sector Contraction Eases in February
The S&P Global Canada Services PMI rose to 46.5 in February 2026 from 45.8 in January, signaling a slower pace of contraction in activity. New orders declined for the 15th consecutive month, though the rate of decline was the weakest since October 2025. With demand still weak, firms either chose not to replace departing workers or resorted to layoffs, pushing employment down for the sixth straight month. Input price inflation continued to ease, reaching its lowest level since September 2024, while output prices rose slightly faster, though still well below input cost levels. Business confidence edged up to its highest since October 2025, fueled by hopes that demand will improve, partly due to upcoming sporting events expected to boost tourism in Canada.
2026-03-04
Canada Service Activity Remains Weak
The S&P Global Canada Services PMI fell to 45.8 in January from 46.5, signalling a third consecutive monthly decline in service sector output. New business volumes contracted for a fourteenth straight month, with the latest drop the steepest since April. New export orders also declined, as some firms cited tariffs as making trade with the US unprofitable. Weak demand led to a sharp fall in backlogs, even as employment declined for a fifth month, though only modestly. Input costs rose sharply, driven by higher supplier prices and tariffs, while competitive pressures and weak demand limited firms’ ability to raise prices. Despite these conditions, business confidence remained positive, supported by expectations of stronger activity and easing trade uncertainty.
2026-02-04
Canada Services PMI Improves but Stays in Contraction
The S&P Global Canada Services PMI rose to 46.5 in December 2025 from 44.3 in November but remained in contraction territory. Apart from growth in October, the index stayed below the 50.0 no-change mark throughout 2025. Business activity fell as new work volumes fell for a thirteenth consecutive month, amid subdued demand and clients’ reluctance to commit to contracts. New export business remained weak, posting another sharp monthly drop. With activity and new orders under pressure, service providers continued to cut employment mainly through the non-replacement of leavers, marking the fourth straight month of job reductions. Despite softer demand, wage costs kept operating expenses elevated, prompting firms to raise selling prices for the eighth consecutive month. Inflation edged up but remained below earlier 2025 levels. Looking ahead, firms were optimistic about activity, though confidence stayed below its historical average amid uncertainty over tariffs and government policies.
2026-01-06