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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada S&P Global Services PMI fell to 46.8 Points in August 2026
FMPMonthlyReleased September 2026
Canada S&P Global Services PMI fell to 46.8 Points in August 2026, released September 2026, down 2.3 Points from July's 49.1 Points reading. The reading matched the 49 Points consensus.
Latest Release
46.800000
Actual
49.000000
Consensus
49.100000
Previous
Median Absolute Error
±2.05
across last 12 releases
Last Call
Sep 2026
Predicted: 49.55
Actual: 46.8
Error: +2.75
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/CAD | ▲ Direct | +0.68 | FOREX | Moves with | → View |
| EUR/USD | ▼ Inverse | −0.60 | FOREX | Moves against | → View |
| S&P/TSX Composite | ▼ Inverse | −0.29 | INDEX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Services PMI (Canada) was reported at 46.80 Points in August 2026. This missed the market consensus of 49.00 Points by 2.20 Points. The reading fell from the previous value of 49.10 Points. Over the past 12 months, the indicator has averaged 47.38 Points, ranging from 44.30 Points to 50.60 Points across 9 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 48.83 Points, up from the prior three at 46.27 Points. Volatility over the past year (σ 2.06 Points) is lower than the prior year (σ 3.12 Points). In September readings over the past 3 years, S&P Global Services PMI has averaged 47.73 Points.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with USD/CAD (Bullish USD). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 2.05 Points.
WHAT TO WATCH NEXT
The next release is scheduled for October 5, 2026. Same-country events in the next 14 days include New Housing Price Index MoM (Sep 23) and Retail Sales Ex Autos MoM (Sep 24).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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S&P Global Services PMI - CA
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About S&P Global Services PMI — Canada
DEFINITION
The S&P Global Services PMI is a widely recognized financial indicator that measures the performance of the global services sector. It provides valuable insights into the health and growth of the services industry, which accounts for a significant portion of the global economy. This indicator is based on a monthly survey of purchasing managers in key service sectors, providing timely and reliable data on business activity, new orders, employment, and prices. The S&P Global Services PMI is a crucial tool for investors, businesses, and policymakers in making informed decisions and assessing the overall economic outlook.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 46.8 Points, consensus 49 Points. Prior reading (Jul 2026): 49.1 Points. Before that (May 2026): 50.6 Points.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/CAD (Bullish USD, r=0.68) — a useful reference for forex-focused traders.
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EXPECTED ZONE
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Economic Calendar - CA Events
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:15 | CA | Housing Starts | 229 | 229.4 | 240 | 234.50 | Medium |
| 12:30 | CA | Building Permits MoM | -17.3 | 18.3 | -6.4 | -11.85 | Low |
| Thursday, September 17, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | CA | Foreign Securities Purchases | 40.83 | 28.64 | 28.64 | Low | |
| 12:30 | CA | Producer Price Index MoM | 0.6 | 0 | -0.30 | Low | |
| 12:30 | CA | Producer Price Index YoY | 12.4 | 12.3 | 12.10 | Low | |
| 12:30 | CA | Raw Materials Prices MoM | -2.2 | 0.7 | 0.50 | Low | |
| 12:30 | CA | Raw Materials Prices YoY | 18.1 | 18.2 | 16.40 | Low | |
| Friday, September 18, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 11:00 | CA | CFIB Business Barometer | 57.6 | 53 | 49.55 | Low | |