Composite PMI 44.0 vs 45.5 priorKey findings:Lack of new business weighs on activityCosts and selling prices rise at greater ratesConfidence in outlook remains subduedComment:Paul Smith, Economics Director at S&P Global MarketIntelligence, said:“Canada’s services economy remained deep insidecontraction territory during June, as uncertaintycaused in the main by US trade policies continued toweigh heavily on activity and new business volumes.International demand was again especially hard hit,and the outlook remains subdued given widespreaduneasiness and challenges in forecasting businesstrends in the months ahead.“Positively, firms added to their staffing levels in Junealthough, reflective of the uncertain outlook and risinglabour expenses, recruitment tended to be for part-time workers. On the price front, operating costs roseto the greatest degree since October 2022 which servedto push up selling prices at a faster pace despite thechallenging business environment.” This article was written by Giuseppe Dellamotta at www.forexlive.com.