FX.co ★ Canada’s Services Sector Shows Tentative Stabilisation as S&P Global PMI Rises in March

Canada’s services economy showed signs of tentative stabilisation in March, as the S&P Global Services PMI edged up to 47.20 from 46.50 in February 2026, on a month-over-month comparison. While the index remained below the 50.0 threshold that separates expansion from contraction, the improvement suggests the pace of slowdown in the sector may be easing.

February’s reading of 46.50 had already marked a contraction compared with the previous month, and March’s uptick indicates a modest recovery in sentiment and activity. The month-over-month framework used for the indicator compares each reading to the prior month, providing a short-term view of momentum in the services sector.

The latest data, updated on 06 April 2026, will be closely watched by markets and policymakers as they assess whether the services downturn is starting to bottom out or merely pausing before further weakness. With the PMI still in contraction territory, the sector remains under pressure, but the incremental gain in March offers a cautiously more positive signal than the prior month.