Canada Composite PMI

The S&P Global Canada Composite PMI rose to 50.7 in October 2024 from 47.0 in September, indicating a return to marginal growth in the private sector after four months of contraction. This growth was supported by increases in new business volumes from both goods producers and service providers, prompting firms to hire additional staff and leading to workforce expansion for the first time in three months. However, rising staff costs contributed to the highest input price inflation in a year, while competitive pressures kept output charges rising only modestly. Business confidence improved slightly, reaching its highest level since March, as firms anticipated lower interest rates to support future growth.