FX.co ★ Canada’s Services Sector Shows Modest Uptick as S&P Global Services PMI Edges Up in February

Canada’s services sector displayed signs of tentative stabilization in February, as the S&P Global Services PMI improved to 46.50, up from 45.80 in January 2026. The latest reading, released on 4 March 2026, remains below the 50.0 threshold that separates expansion from contraction, but points to a slower pace of decline on a month-over-month basis.

The February figure reflects a modest month-on-month improvement in conditions compared with January’s performance, when the index had dropped to 45.80. According to the comparison framework, the “actual” reading shows how activity in February shifted relative to January, while the “previous” figure captured January’s change versus December.

Although still in contractionary territory, the incremental rise in February suggests that the downturn in Canada’s services economy may be easing, with markets likely to watch upcoming releases for confirmation of a potential bottoming-out in the sector.