The current transaction balance deficit will have in 6 months to be 1 11.1 billion
The Canadian service sector will decrease in the fifth month
In light of uncertainty about the data, commercial policies and general election, the service economy will continue in April for the fifth consecutive month in April; Led to a decline in economic activity.
The main indicator of business activities scored 41.5 points in April, slightly increased from 41.2 points in March, which is the lowest level in about five years, but it is still less than 50 points, which separates growth and contraction.
“The service sector in Canada maintains its weak performance in April, a significant decrease in operations and a significant decline in the size of the new business,” said Paul Smith, Director of Economics at Standard & Poor’s Global Market Intelligence.
Companies attributed this decline in the continuation of the state of financial and political uncertainty related to trade policies and federal elections during the data collection period.
The Liberal Party continued to power in the parliamentary elections on Monday, but Prime Minister Mark Carney failed to get a majority to strengthen its position in negotiating with the United States on the commercial fee.
75 percent of the exports of the United States Canada, of which are important products such as steel, aluminum and cars, which are affected by high American drawings. Canada Bank has warned that continuous trade tensions around the world will lead to a major economic recession in the country.
The new business index recovered from 41.9 points to 41.9 points, compared to 41.3 points in March, the employment index continues to decline for the fourth consecutive month.
Smith said: “For the first time, for the first time, the sale of service providers has increased as a result of their compulsion to reduce the prices of their products;
The price index imposed a decrease in prices for the first time after March 2021; It reflects inflation stress on maintenance costs despite the slowdown.
The Purchase Manager Index in Canada fell to 41.7 points in April, compared to 42.0 points in March, “Kovid -19” has been the biggest contraction in production from June 2020.
Similarly, previous data published last Thursday showed further decline in industrial activities, as the manufacturer declined to 45.3 points in April, from 46.3 points in the previous month.
