Services PMI Rises to 49.2, Slowest Contraction in 6 Months Amid Mixed US Consumer Data

Canada's S&P Global services PMI climbed to 49.2 in April 2026 from 47.2, the sixth month below 50 but slowest contraction pace, with composite PMI at 49.9 signaling near-stabilization as new orders and employment turned positive. This caps a week of divergent US signals: Fed data showed median household net worth up 37% to $192,900 since 2019 on 44% housing gains, but income rose just 3% to $70,300 amid ~4% saving rates. Morgan Stanley survey revealed sentiment at two-year lows (net 18% see economy worsening) yet six-month electronics spending intentions improved 7pp to -10%, hinting at S&P 500 resilience despite near-term softness and geopolitical risks.