Canadian S&P Global Services PMI (Mar) 47.2 (Prev. 46.5)

S&P

• "The impact of the war in the Middle  East has led to heightened uncertainty and delayed  decision making amongst clients, although firms are  confident that a swift resolution would lead to an uplift in activity."
• "... the present business environment is clearly challenging, with firms reporting a steep increase in their operating expenses over the month, driven mainly by increased fuel and transportation costs."
• "However, given subdued market demand, firms’ own pricing power remains restricted leading to only partial pass through of higher costs to clients and therefore a squeeze in margins."