Canada’s services sector contracted at a slightly faster pace in October 2026, as the S&P Global Services Purchasing Managers’ Index (PMI) eased to 48.10 from 48.30 in September. The latest reading, updated on 4 November 2026, remains below the 50-point threshold that separates expansion from contraction, signaling a continued soft patch for the country’s service industries.
On a month‑over‑month basis, the October decline, though modest, marks a further weakening in activity compared with September’s performance. The previous September reading of 48.30 already reflected a contraction versus the month before, and the new data suggests that pressure on service providers persisted into the fourth quarter.
The month‑over‑month comparison framework highlights that both September and October showed deterioration relative to their preceding months, underscoring a lack of momentum in Canada’s services economy as 2026 progresses. Investors and policymakers will be watching upcoming releases closely for signs of stabilization or a potential deepening of the downturn in the sector.