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The
headline business activity index rose to 49.3 from 46.4 in
March, posting its highest level since June last year.
A reading below 50 indicates contraction in the sector, with the
index stuck below that threshold for 11 straight months, the
longest such stretch in three years.
"Another fall in activity during April reinforced the general
underlying weakness that pervades the Canadian services
economy," Paul Smith, economics director at S&P Global Market
Intelligence, said in a statement. "But there was some
positivity to be found in the survey data."
The new business index rose to 50.0 from 48.3 in March, ending
an eight-month run of falling sales, while the measure of
employment increased to 50.6 from 50.0 as extra staff were taken
on to help develop new projects or to support sales activities.
"Inflation rates remain too high ... Costs are in part being
driven up by higher salary demands, whilst firms are raising
their own charges at a faster rate," Smith said.
The prices charged sub-index rose to a nine-month high of 56.3
from 54.7 in March and the measure of input prices was at 60.3,
easing only slightly from 61.0. Firms said that the recent
increase in the carbon tax had raised fuel costs.
The S&P Global Canada Composite PMI Output Index, which captures
manufacturing as well as service sector activity, rose to a
10-month high at 49.3, up from 47.0 in March.
Data on Wednesday showed that the manufacturing PMI edged lower
to 49.4 last month.
(Reporting by Fergal Smith; Editing by Chizu Nomiyama)
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