📝 Growth In Services Sector Remains Firm: BMO

After holding up well in the prior two months, the services PMI edged down just 0.2 pts to 56.7 in September, while still beating expectations. Business activity (-1.8 pts to 59.1) and new orders (-1.2 pts to 60.6) eased, but the pace of expansion remained firm. Meantime, supplier delivery times lengthened at a slower pace, down 0.6 pts to 53.9, marking the lowest level since February 2020

Prices fell for the fifth straight month, down 2.8 pts to 68.7, marking the lowest level since the start of 2021.

While the services sector stepped back in September, growth remains fairly firm despite still-stirring underlying price pressures and a darkening economy outlook.

- BMO