Service sector

Service sector contracts in Italy in July – PMI

A food delivery worker rides a bicycle near mounted police officers next to St. Peter’s Square, on the fourth day of an unprecedented lockdown across Italy imposed to slow the coronavirus outbreak, in Rome, Italy, March 13, 2020. REUTERS / Alberto Lingria Join now for FREE unlimited access to Reuters.com Register ROME, Aug 3 (Reuters) […]

Service sector

Texas service sector growth held steady in July

July 26, 2022 Texas service sector growth held steady in July What’s new this month For this month’s survey, Texas business leaders answered additional questions about labor market conditions. The results of these questions from the Texas Manufacturing Outlook Survey, the Texas Service Sector Outlook Survey and the Texas Retail Outlook Survey have been published […]

Service sector

The ifs and buts of cloud services industry export growth

Despite a global increase in demand for software and data processing in the post-pandemic era, the shortage of skilled labor has seen the Ministry of Commerce set an export target of just $470 million from the sector to the United States. during the current fiscal year 2022-23, which is 13.31% higher than the previous fiscal […]

Service sector

Column: US service-sector inflation threatens commodity prices

An American flag is seen on the helmet of a worker at the factory of IceStone, a maker of recycled glass countertops and surfaces, in New York City, New York, U.S., June 3, 2021. REUTERS/Andrew Kelly/File Photo Join now for FREE unlimited access to Reuters.com Register LONDON, July 7 (Reuters) – Recent falls in commodity […]

Service sector

ISM: The services sector progressed in June

The ISM services index recorded 55.3% in June; 0.6% lower than May’s reading of 55.9%. This reading represents the 25e consecutive month of growth for the services sector; however, this is the lowest reading since May 2020 (45.2%). Eighteen non-manufacturing industries posted growth in June. Respondents to the accommodation and food services survey noted that […]

Service sector

Services sector activity at 11-year high in June

New Delhi: India’s services sector activity rose to its highest level since April 2011 amid continued improvement in demand conditions, although cost pressures in the services economy remained stubbornly high, according to a monthly survey released on Tuesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 58.9 in May to […]

Service sector

UK service sector growth improves in June

UK service providers reported faster business growth in June despite cost-of-living concerns and a weak economic outlook, final data from S&P Global showed on Tuesday. The S&P Global/Chartered Institute of Procurement & Supply Final Services Purchasing Managers’ Index stock recorded 54.3 in June. The flash score was 53.4, unchanged from May. The score remained above […]

Service sector

India’s service sector grows fastest in over 11 years

Bengaluru: India’s dominant services industry grew at the fastest pace in more than 11 years in June amid strong demand, but stubborn inflation remains a concern as prices charged rose at the fastest pace. fastest in nearly five years, a private investigation revealed on July 5. The S&P Global India Services Purchasing Managers Index (INPMIS=ECI) […]

Service sector

Service sector growth slows as prices remain high

Growth in the country’s service sector slowed in June as price pressures remained high. The AIB services PMI fell to 55.6 from 60.2 in May. Readings above 50 indicate an overall increase in activity. The latest reading signaled the smallest increase in activity since last December and capped a full quarter of slowing growth However, […]

Service sector

Italy’s service sector growth slows for the second month of June

ROME, July 5 (Reuters) – Growth in Italy’s services sector slowed for a second consecutive month in June amid high inflation and faltering demand, a survey showed on Tuesday. S&P Global’s Purchasing Managers’ Index (PMI) for services fell to 51.6 in June from 53.7 in May, approaching the 50 mark that separates growth from contraction […]

Service sector

Growth improves in UK services sector, but new orders slow to 16-month low

The UK services sector saw activity improve last month, although growth in new orders slowed to a 16-month low as economic uncertainty and inflation are expected to have an impact on expenses. The closely watched S&P Global/Cips UK services PMI survey scored 54.3 in June, having rebounded from a reading of 53.4 the previous month. […]

Service sector

Japan’s service sector activity grows at fastest pace in over 8 years: PMI

Japan’s service sector activity grew at the fastest pace in more than eight years in June as the easing of coronavirus curbs boosted confidence in businesses such as those in tourism. The pick-up in activity is good news for a government betting on domestic demand to put the world’s third-largest economy firmly on the road […]

Service sector

Mallorca struggle to find staff in the service sector

The main European hotel chains are hire workers with no experience or even a resume, as executives admit that years of underpaid staff have come back to bite, leaving them unable to meet post-pandemic travel demand. thousands of workers left the hospitality industry when international travel ceased during the COVID-19 pandemic. Many have chosen don’t […]

Service sector

Focus on China — Yuan Companies; The service sector is growing; Q2 job confidence at lowest since 2009

RIYADH: Europe is preparing to lead the world in regulating the cryptocurrency industry at a time when prices have plunged, wiping out fortunes, fueling skepticism and prompting calls for greater scrutiny. The EU took a first step on Wednesday evening by agreeing on new rules subjecting cryptocurrency transfers to the same money laundering rules as […]

Service sector

Texas service sector growth strengthens in June

June 28, 2022 Texas service sector growth strengthens in June What’s new this month For this month’s survey, Texas business executives answered additional questions about wages, prices and income restrictions. The results of these questions from the Texas Manufacturing Outlook Survey, the Texas Service Sector Outlook Survey and the Texas Retail Outlook Survey have been […]

Service sector

Shanghai lacks workers in the service sector

Since Shanghai lifted COVID-19 restrictions in early June, demand for workers in sectors such as home services, logistics and deliveries has increased. Jobs website Ganji said the number of job openings posted recently jumped 125% from the April-May shutdown. Hot jobs are in service industries such as home services, logistics and storage. At Aijun Home […]

Service sector

Finland’s service sector suffers from a long labor shortage | New

Employers say finding workers is difficult. While the service sector as a whole struggles to find workers, the restaurant sector is one of the hardest hit. Image: Matti Myller/Yle The service sector in Finland is suffering from a protracted labor shortage, with employers claiming that there are simply not enough job seekers or that their […]

Service sector

Service sector needs equal recognition as agriculture and manufacturing Abhay Sinha

Considering the resilience of the service sector during the pandemic, we must provide it with a playing field with manufacturing, incentives and support to overcome the post-pandemic scenario and the damage caused to the tourism sector due to war. Russian-Ukrainian company, said Abhay Sinha, managing director, Service Export Promotion Council, in an interview with BW […]

Service sector

Service sector development issues discussed

UZBEKISTAN, June 7 – On June 7, President of Uzbekistan Shavkat Mirziyoyev chaired a videoconference on the development of the service sector. Service is a sector of the economy that can create jobs quickly and at low cost. Therefore, consumer service centers are organized in the regions, vocational training of unemployed people is organized, funds […]

Service sector

Sentiment among Japanese economy watchers rises in May as service sector recovers

Students walk along the shore of a seaside park as a plane prepares to land at Haneda Airport in Tokyo, June 2, 2022. (AP Photo/Hiro Komae) TOKYO (Kyodo) – Business confidence among workers in jobs sensitive to economic trends rose for the third consecutive month in May, supported […]

Service sector

The services sector has received a hammer blow as the cost of living crisis deepens

Tuesday 07 June 2022 11:43 (Photo by Hollie Adams/Getty Images) Britain’s services industry was hammered last month, posting its worst performance in more than a year, as soaring inflation weighed on consumer demand. The closely watched IHS Markit/CIPS UK services PMI survey came in at 53.4 last month, after falling to 58.9 in April. Any […]

Service sector

UK service sector cools as inflation squeezes consumer demand: reaction

The widely-watched IHS Markit/Cips UK services PMI (purchasing managers’ index) survey scored 53.4 in May, after falling to 58.9 in April. Any score above 50 denotes growth. However, it was the weakest figure since February 2021 as companies pointed to “weak business and consumer confidence” due to worries about the economic outlook. Register to our […]

Service sector

Soaring inflation leads to a sharp slowdown in the UK services sector

The UK services sector posted its worst performance for over a year in May as soaring inflation weighed on consumer demand (Gareth Fuller/PA) (PA Archive) Britain’s services sector posted its worst performance in more than a year last month as soaring inflation weighed on consumer demand. The closely watched IHS Markit/CIPS UK services PMI survey […]

Service sector

UK services sector under pressure from soaring inflation

Business growth in the UK slowed sharply in May, a closely watched survey showed on Tuesday, as soaring inflation hit at home. The S&P Global CIPS UK Services Business Activity PMI fell to 53.4 last month from 58.9 in April, the weakest headline since February 2021, when the country was in lockdown. With the falls […]

Service sector

China’s service sector continues to contract in May

China’s services sector recorded another sharp contraction in May due to measures taken to contain the recent surge in COVID-19 cases, survey results from S&P Global showed on Monday. The Caixin Services Purchasing Managers’ Index rose to 41.4 in May from a 26-month low of 36.2 in April. But a score below 50.0 indicates a […]

Service sector

Japan’s service sector activity grows at fastest pace in 6 months—PMI

TOKYO — Japan’s service-sector activity grew at the fastest pace in six months in May as consumer confidence picked up further after coronavirus curbs eased, although high costs of energy and materials have pushed up input prices at a record rate. The final index at the Jibun Bank Japan Services Purchasing Managers’ Index (PMI) rose […]

Service sector

Strength in Eurozone services sector helped support robust economic growth in May: S&P Global PMI

The euro zone economy continued to grow at a solid pace in May as recently eased pandemic-related restrictions supported a sustained rise in activity levels, S&P Global said on Friday. The Eurozone Purchasing Managers Composite Index fell to a four-month low of 54.8 in May from 55.8 in April. While the headline measure was still […]

Service sector

The strength of the eurozone services sector helped support robust economic growth in May

By Maria Martinez The eurozone economy continued to grow at a strong pace in May as recently eased pandemic-related restrictions supported a sustained rise in activity levels, S&P Global said. The Eurozone Purchasing Managers Composite Index fell to a four-month low of 54.8 in May from 55.8 in April. While the headline measure was still […]

Service sector

Services sector grows in May despite “unprecedented” inflation; Services PMI hits 11-year high at 58.9

India’s services sector grew in May at the fastest pace in 11 years, driven by a substantial pick-up in new business growth amid picking up demand after the economy reopened after COVID-19 shutdowns, according to monthly survey results. The seasonally adjusted S&P Global Services PMI business activity index came in at 58.9 in May, down […]

Service sector

US service sector growth slows again in May – ISM survey

WASHINGTON (Reuters) – Growth in the U.S. service industry slowed for a second straight month in May, but businesses saw strong increases in new domestic and export orders, a survey showed on Friday. . The Institute for Supply Management said its non-manufacturing activity index fell to 55.9 last month from 57.1 in April. Economists polled […]

Service sector

U.S. service sector activity grows at slowest pace since early 2021

Numbers: A closely watched barometer of business conditions at service-oriented businesses such as banks, retailers and hospitals fell 1.2 points to 55.9 in May, the Institute for Supply Management said on Friday. This is the lowest reading since February 2021. Economists polled by The Wall Street Journal had forecast a reading of 56.7%. Numbers over […]

Service sector

Service activity hits 11-year high in May, CFO News, ETCFO

By: Alekh Shah India’s services sector grew in May at the fastest pace in 11 years, driven by a substantial pick-up in new business growth amid picking up demand after the economy reopened after the COVID-19 shutdowns, a private investigation showed. According to a report, the seasonally adjusted S&P Global India Services Purchasing Managers’ Index […]

Service sector

Growth in the French services sector weakened in May

Businessmen take advantage of the fine weather at lunchtime under the Arche de la Défense in the financial and business district west of Paris, as warm sunny weather continues in France, on 13 March 2014. REUTERS/Charles Platiau Join now for FREE unlimited access to Reuters.com Register PARIS, June 3 (Reuters) – Growth in activity in […]

Service sector

Gold price pulls away from daily lows as U.S. service sector falls short of expectations

(Kitco News) According to the latest data from the Institute of Supply Management (ISM), gold was holding at $1,860 an ounce as momentum in the services sector was slightly weaker than expected in May. The non-manufacturing purchasing managers’ index was at 55.9% last month, down from 57.1% in April. The 1.2 […]

Service sector

US service sector growth slows again in May, survey finds

A worker fills a cannoli at a bakery in the Reading Terminal Market after the inflation rate hit a 40-year high in January, in Philadelphia, Pennsylvania, U.S. February 19, 2022. REUTERS/Hannah Beier Join now for FREE unlimited access to Reuters.com Register WASHINGTON, June 3 (Reuters) – Growth in the U.S. services industry slowed for the […]

Service sector

India’s service sector grows at fastest pace in over 11 years in May

India’s service sector business improved further and grew at the fastest pace in more than 11 years in May, supported by a substantial pick-up in new business growth, even as inflation in service costs inputs hit a record high, according to a monthly survey on Friday. The seasonally adjusted S&P Global India Services PMI Business […]

Service sector

India’s service sector grows the most since 2011

India’s services sector saw the fastest growth in more than 11 years in May, buoyed by strong demand growth following the reopening of the economy after the COVID-19 shutdowns, the results of an S&P Global survey were released on Friday. The Services PMI fell from 57.9 in April to 58.9 in May, while the index […]

Service sector

Japan’s service sector activity grows at fastest pace in 6 months – PMI

TOKYO, June 3 (Reuters) – Japan’s service sector activity grew at the fastest pace in six months in May as consumer confidence picked up further after the easing of anti-corruption measures. coronaviruses, although high energy and material costs have driven input prices up at a record rate. The final index at the Jibun Bank Japan […]

Service sector

Japan’s service sector activity grows at fastest pace in 6 months – PMI | Investment News

TOKYO (Reuters) – Japan’s services sector activity grew at the fastest pace in six months in May as consumer confidence recovered further after coronavirus curbs eased, although High energy and material costs have pushed up input prices at a record rate. The final index at the Jibun Bank Japan Services Purchasing Managers’ Index (PMI) rose […]

Service sector

Texas service sector growth weakens further in May

June 1, 2022 Texas service sector growth weakens further in May What’s new this month For this month’s survey, additional questions were asked of Texas business leaders about supply chain disruptions and costs. The results of these questions from the Texas Manufacturing Outlook Survey, the Texas Service Sector Outlook Survey and the Texas Retail Outlook […]

Service sector

ZED Program to Amplify India’s Manufacturing Services Sector Experts

The central government’s recently launched Zero Defect Zero Effect (ZED) program will help micro, small and medium-sized enterprises (MSMEs) establish a successful track record in a globally competitive world, experts have told BW Businessworld . In April, Minister of Union for (MSME) Narayan Rane launched the Zero Defect Zero Effect (ZED) certification program to develop […]

Service sector

The economy shows resilience in May thanks to the dynamism of the services sector

Lemon_tm/iStock via Getty Images The Eurozone economy maintained encouraging resilient growth in May as a beleaguered manufacturing sector was offset by a buoyant services sector. Although factories continue to report widespread supply constraints and lower demand for goods amid elevated pricing pressures, the the economy is boosted by pent-up demand for services as pandemic-related restrictions […]

Service sector

Ease of doing business for MSMEs rises to 67, service sector faces more problems

New Delhi, May 24 (IANS) The overall Ease of Doing Business for Micro, Small and Medium Enterprises (MSME EODB) stands at 64 points out of 100, of which the EODB for Manufacturing MSMEs was higher by compared to the service sector, according to a study released on Tuesday said. The study ‘Ease of Doing Business […]

Service sector

Eurozone economy shows resilience in May on buoyant services sector as price pressures ease from April high

The Eurozone economy maintained encouraging resilient growth in May as a beleaguered manufacturing sector was offset by a buoyant services sector. Although factories continue to report widespread supply constraints and falling demand for goods amid high price pressures, the economy is being boosted by pent-up demand for services as pandemic-related restrictions are lifted. However, […]

Service sector

Eurozone growth remains robust in May thanks to boom in services sector, according to PMI indices

By Maria Martinez Eurozone economic growth remained robust in May despite headwinds associated with the war in Ukraine, supply constraints related to the Covid-19 pandemic and rising costs of living, S&P Global said. The composite euro zone purchasing managers’ index fell slightly to 54.9 in May from 55.8 in April, according to the preliminary reading. […]

Service sector

Ease of doing business for MSMEs rises to 67, service sector faces more problems

New Delhi, May 24 (IANS): The overall ease of doing business of micro, small and medium-sized enterprises (MSME EODB) stands at 64 points out of 100, of which the EODB for MSMEs in the manufacturing sector was higher than that in the service sector, according to a study released on Tuesday. The study ‘Ease […]

Service sector

Labor shortage in the service sector: Is it finally time to change the way companies hire in the service sectors related to lifestyle, environment, property management and facilities?

The oft-repeated complaint from the service industry has become a resounding refrain, with more companies echoing the same complaint of not having enough manpower. For the industry that relies heavily on labor to provide the human touch and service, it’s not a simple problem that automation and digitization can solve. Singapore’s economic activity has begun […]

Service sector

Service sector suffers more from latest COVID outbreak than in 2021: chamber

Taipei, May 18 (CNA) Taiwan’s growing COVID-19 outbreak has dealt a bigger blow to the country’s service industry than last summer, when strict disease controls were introduced in the first wave of cases, a chamber of commerce said Wednesday. Although the current epidemic has not yet peaked, sales in the food and beverage, tourism, accommodation […]

Service sector

9 key actions proposed in the policy paper to transform the service sector and address the labor shortage

SINGAPORE – Faced with the severe labor shortage in the service sector and the need to transform it and promote sustainable growth, the Singapore Business Federation (SBF) has proposed several actions in a guidance released Thursday, May 12. These include reviewing the foreign labor quota in the service sector and collaborative efforts to enable companies […]

Service sector

Computer and information services industry sets first-quarter sales record

Taipei, May 10 (CNA) Taiwan’s computer and information services industry led several sectors in hitting a record level of sales for the first quarter, with total revenue surpassing NT$115 billion. ($3.9 billion) for the first three months of 2022, according to the Ministry of Economic Affairs (MOEA). Data compiled by the Department of Statistics of […]

Service sector

Japan’s service sector activity posts first growth since December – PMI

TOKYO, May 9 (Reuters) – Japan’s service sector activity rose for the first time in four months in April as consumer confidence recovered after the government lifted coronavirus curbs following a drop in domestic infections in Omicron. The Jibun Bank Japan Services Purchasing Managers’ Index (PMI) final rose to 50.7 seasonally adjusted from the previous […]

Service sector

Japan’s service sector activity posts first growth since December

TOKYO, May 9 (Reuters) – Japan’s service sector activity rose for the first time in four months in April as consumer confidence recovered after the government lifted coronavirus curbs following a decline in domestic Omicron infections. The Jibun Bank Japan Services Purchasing Managers’ Index (PMI) final rose to 50.7 seasonally adjusted from the previous month’s […]

Service sector

UK service sector records strong growth in April

The UK services sector expanded at a stronger pace in April, although rising costs and the war in Ukraine combined to contain the pace of expansion, results showed on Thursday. an S&P Global survey. The Chartered Institute of Procurement & Supply’s Final Services Purchasing Managers Index came in at 58.9 in April, which was above […]

Service sector

Service sector growth slows as business confidence suffers

The report found the services sector slowed in April as business confidence declined (Johnny Green/PA) Confidence among UK service sector bosses fell to its lowest level in 18 months as rising prices slowed the sector’s recovery, new data shows. The decline in confidence is driven by rising costs of products and services in the sector […]

Service sector

India’s service sector remains firm in April; inflation weakens business confidence, CFO News, ETCFO

By: Alekh Shah Growth in India’s services sector continued to accelerate in April, with the S&P Global India Services Purchasing Managers’ Index (PMI) rising to 57.9 in April from 53.6 in March and 51.8 in february. However, with selling prices rising at the fastest rate since July 2017 and a near-record rise in input costs, […]

Service sector

India’s service sector activity hit 5-month high in April despite inflation concerns

New Delhi: India’s services sector saw some activity in April as it grew at its fastest pace in five months on strong demand, according to a Reuters report. The Purchasing Managers Index (PMI), produced by S&P Global India Services, rose to 57.9 in April from 53.6 in March, the highest since November. It also topped […]

Service sector

China’s service sector contracts sharply following containment measures

China’s services sector contracted sharply in April as the introduction of stricter COVID-19 containment measures led to faster reductions in activity and new orders, the results of a survey showed on Thursday. S&P Global survey. The Caixin Services Purchasing Managers Index fell to 36.2 in April from 42.0 in March. A score below 50.0 indicates […]

Service sector

Inflation continues to drive up service sector prices

The services sector posted strong but slower growth in April, according to a new survey, but prices rose at the fastest rate on record as inflation continued to put pressure on the sector. The AIB Purchasing Managers Index posted the fastest rise in expenses in more than 20 years. It was also the second fastest […]

Service sector

Services sector boosts Eurozone growth in April as slowdown in manufacturing continues

By Maria Martinez April’s Purchasing Managers’ Index data highlighted the growing emergence of a two-speed economy in the euro zone, with faster growth in the services sector contrasting with a slowdown among manufacturers, said S&P Global. The eurozone composite PMI rose to 55.8 in April from 54.9 in March, indicating the strongest expansion in economic […]

Service sector

US service sector slows; the measurement of input prices at an all-time high – ISM survey

Customers drink and dine al fresco at ‘Martha’ restaurant in Philadelphia, Pennsylvania, U.S., August 7, 2021. REUTERS/Hannah Beier Join now for FREE unlimited access to Reuters.com Register WASHINGTON, May 4 (Reuters) – Growth in the U.S. services industry unexpectedly slowed in April, with employment contracting for the second time this year, while a measure of […]

Service sector

ISM: Tertiary contracts in April

The ISM services index recorded 57.1% in March; 1.2 percentage points lower than the March reading of 58.3%. The reading represents the 23rd consecutive month of growth for the services sector, which has expanded for all but two of the past 147 months. Seventeen non-manufacturing industries recorded growth in April. Survey respondents noted that “pricing […]

Service sector

Gold price continues to struggle as services sector ISM PMI falls in April

Editor’s Note: With such volatility in the markets, stay up to date with daily news! Get our quick roundup of today’s must-see news and expert opinion in minutes. Register here! (Kitco News) – Disappointing economic data continues to provide little support for the gold market as all the focus is on the Federal […]

Service sector

CBN offers AML advice for the financial services industry

The Central Bank of Nigeria (CBN) has issued guidelines on combating money laundering and combating the financing of terrorism. This initiative aims to help the subsector identify, assess and mitigate money laundering and terrorist financing (ML/TF) risks in its operations. These risks may arise from customers, products and services, business practices or delivery methods, jurisdictions […]

Service sector

Texas service sector activity slows in April

April 26, 2022 Texas service sector activity slows in April What’s new this month For this month’s survey, additional questions were asked of Texas business executives about labor market conditions and remote work. The results of these questions from the Texas Manufacturing Outlook Survey, the Texas Service Sector Outlook Survey and the Texas Retail Outlook […]

Service sector

Saudi Arabia leads Islamic financial services sector with $800 billion in assets

The Islamic financial services industry in Saudi Arabia holds a leading position globally, said Deputy Governor of the Saudi Central Bank (SAMA) for Research and International Affairs, Dr. Fahad Bin Abdullah Al -Dossari. The industry’s total assets in the banking sector, Sukuk sector, insurance sector and investment fund sectors stood at $800 billion, putting it […]

Service sector

In the service industry, timing and relationships are everything

SR Trident shipyard near Ingleside, Texas. Trident SR There’s no better way to build a business, and nowhere is that truer than in an industry as unpredictable and volatile as the oil and gas industry. But there’s a lot to be said for being in the right place at the right time with the right […]

Service sector

Eurozone business growth unexpectedly accelerated in April, led by the services sector

Eurozone economic growth accelerated in April as the rebound in the services sector benefited from the easing of COVID-19 restrictions and helped offset the near stall in manufacturing output. The S&P Global Purchasing Managers’ Index for the eurozone services industry hit an eight-month high of 57.7 in April from 55.6 in March. But the manufacturing […]

Service sector

Drone services sector will provide one lakh jobs in 4-5 years: Scindia

The drone service sector is extremely promising and will provide around one million jobs over the next four to five years, Aviation Minister Jyotiraditya Scindia said on Friday. “We set up a productivity-related scheme for the drone sector where a nascent drone manufacturing industry – which had a total revenue of Rs […]

Service sector

Jyotiraditya Scindia: Drone service industry will provide 1 lakh jobs in 4-5 years : Jyotiraditya Scindia

The drone service sector is extremely promising and will provide around one million jobs over the next four to five years, Aviation Minister Jyotiraditya Scindia said on Friday. “We set up a productivity-related scheme for the drone sector where a nascent drone manufacturing industry – which had a total revenue of Rs 60 crore – […]

Service sector

Jyotiraditya Scindia: Drone service industry will provide 1 million jobs in 4-5 years | India Business News

NEW DELHI: The drone service sector is extremely promising and will provide around one million jobs over the next four to five years, Aviation Minister Jyotiraditya Scindia said on Friday. “We set up a productivity-related scheme for the drone sector where a nascent drone manufacturing industry – which had a total revenue of Rs 60 […]

Service sector

UK cost of living crisis hurts retail and service sector | Cost of living crisis

The UK economy is showing growing signs of strain from the soaring cost of living amid a sharp drop in retail sales and the biggest loss of momentum in service sector activity since Omicron announced hit businesses late last year. Figures showed a bigger-than-expected drop in retail sales in March was followed by a slowdown […]

Service sector

SEPC: Services Sector Exports Expected to Hit $350 Billion This FY : SEPC

NEW DELHI: Services sector exports are expected to hit $350 billion in the current fiscal year, SEPC said on Wednesday. The export target for services and some goods sectors was discussed on Wednesday during a meeting with Trade and Industry Minister Piyush Goyal. Abhay Sinha, deputy chief executive of the Services Export Promotion Council (SEPC), […]

Service sector

China c.bank calls for more support for contact-intensive service sector

BEIJING (Reuters) – China’s central bank and insurance regulator have urged financial institutions to step up support for the contact-intensive service sector and small businesses hit by COVID-19 outbreaks. Financial support should also be given priority to key sectors including freight logistics and consumption, the People’s Bank of China (PBOC) said in a statement on […]

Service sector

China’s central bank calls for more support for contact-intensive service sector

BEIJING (Reuters) – China’s central bank and insurance regulator have urged financial institutions to step up support for the contact-intensive service sector and small businesses hit by COVID-19 outbreaks. Financial support should also be given priority to key sectors including freight logistics and consumption, the People’s Bank of China (PBOC) said in a statement on […]

Service sector

RTA and Dubai Police launch #It_Can_Wait awareness campaign targeting delivery services industry

The campaign is part of the two entities’ joint efforts to reduce motorcycle accidents, which jumped 33% from 300 in 2020 to 400 in 2021. Major delivery companies in the emirate will be featured in the campaign to alert delivery riders to road safety standards and urge motorists to take care when riding or passing […]

Service sector

Morgan Stanley provides insight into oil services sector – sees higher margins boost inventory

Joey Ingelhart/E+ via Getty Images Morgan Stanley presented first quarter results for the oil services sector on Monday, indicating that the risk-reward has emerged balanced and that the bank’s preference is for international stories rather than well-understood North American names. The bank raised price targets across the industry, with an average increase of 29%. The […]

Service sector

Economic watch: China seeks to shield service sector companies from pandemic shock

As service-sector companies grapple with nationwide resurgences of COVID-19, China has rolled out a series of measures to keep their businesses afloat, in a bid to stabilize jobs and the economy. At the State Council executive meeting on Wednesday, the country again underscored stepping up efforts to relieve market entities hard hit by the pandemic […]

Service sector

China seeks to protect service sector enterprises from pandemic shock – Xinhua

People dine inside a restaurant in Zhengzhou, central China’s Henan Province. (Xinhua/Li Jianan) BEIJING, April 7 (Xinhua) — As companies in the service sector grapple with nationwide resurgences of COVID-19, China has rolled out a series of measures to keep their businesses afloat, aiming to stabilize employment and the economy. At the State Council executive […]

Service sector

India’s services sector: India’s services activity at 3-month high as Covid restrictions ease

Activity in India’s services sector hit a three-month high in March, helped by the easing of Covid-related restrictions, even as business confidence remained subdued on inflation fears that have been reaccelerated by the Russian-Ukrainian conflict, a private investigation revealed on Wednesday. . The S&P Global Purchasing Managers’ Index (PMI) for services rose from 51.8 in […]

Service sector

China’s service sector contracts sharply as virus containment measures tighten

China’s services sector notably contracted in March as the recent surge in COVID-19 cases and restrictions aimed at limiting the spread of the virus led to a sharp drop in activity, results of a survey showed on Wednesday. S&P Global survey. The Caixin services purchasing managers’ index fell to 42.0 in March from 50.2 in […]

Service sector

China’s service sector hit hard by Covid-19 surge

BEIJING (REUTERS) – Activity in China’s service sector contracted at the fastest pace in two years in March as a rise in coronavirus cases curtailed mobility and weighed on demand, it revealed. a private sector survey on Wednesday 6 April. The Caixin Services Purchasing Managers’ Index (PMI) dipped to 42 in March from 50.2 in […]

Service sector

Christopher Tuttle: The collapse of the US human services sector will cost lives

You have 3 free items left this month. Each year in the United States, Americans make 178 million life-threatening trips over 46,154 structurally deficient bridges. The horrendous shape of our nation’s infrastructure is what compelled the Biden administration and Congress to pass the $65 billion bipartisan infrastructure deal. The risk of injury or death was […]

Service sector

The FTSE 100 in the red despite growth in the services sector, as new car sales saw the worst March in 24 years

UK blue chip index slides into red after latest economic news as investors await developments in Ukraine UK service providers saw an unusually strong increase in business activity in March and the rate of expansion accelerated to its highest level in 10 months, S&P Global/CIPS said. The lifting of pandemic restrictions and the return to […]

Service sector

Services sector and composite PMIs offer support in EUR

The Eurozone economic calendar was busy this morning. The Member State and Eurozone services sector and composite PMIs were in focus. Member States For Spain, the services PMI fell from 56.6 to 53.4 against 55.2 expected. In Italy, service sector activity grew more slowly, with the PMI falling from 52.8 to 52.1. Economists had forecast […]

Service sector

US service sector picks up speed in March; high input prices persist – ISM survey

WASHINGTON (Reuters) – U.S. service-sector activity picked up in March, boosted by the rollback of pandemic-related restrictions, but businesses continued to face higher costs as tensions supply persisted. The Institute for Supply Management said on Tuesday its non-manufacturing activity index rebounded to 58.3 last month from a one-year low of 56.5 in February. This ended […]

Service sector

US service sector picks up speed in March; high input prices persist, survey finds

The Space Needle and Mount Rainier are seen over the skyline of Seattle, Washington, U.S. February 11, 2017. REUTERS/Chris Helgren Join now for FREE unlimited access to Reuters.com Register WASHINGTON, April 5 (Reuters) – U.S. service-sector activity picked up in March, boosted by the rollback of pandemic-related restrictions, but businesses continued to face higher costs […]

Service sector

EURUSD forecast will be based on rate projections and US services sector report

Talking Points S&P 500, EURUSD, Yield Curve, Fed, Dollar and AUDUSD The business perspective: USDJPY bearish below 121; AUDUSD Break from 0.7550 to 0.7450 Range; Crude Oil bullish above $100 Data from Russia and energy prices offer important insight into the effects of the 39-day assault on Ukraine, but monetary policy may be a more […]

Service sector

Japan’s service sector activity extends decline due to COVID-19 drag

TOKYO: Japan’s service sector activity fell for a third consecutive month in March as the coronavirus pandemic weighed on demand, while the Russian-Ukrainian war cast doubt on the outlook. The pace of contraction slowed from the previous month, however, signaling that domestic demand was helped by the easing of pandemic curbs in parts of the […]

Service sector

Japan’s service sector activity extends decline due to COVID drag – PMI

TOKYO, April 5 (Reuters) – Japan’s services-sector activity fell for a third straight month in March as the coronavirus pandemic weighed on demand, while the Russian-Ukrainian war cast doubt on the outlook. The pace of contraction slowed from the previous month, however, signaling that domestic demand was helped by the easing of pandemic curbs in […]

Service sector

Japan’s service sector activity extends decline due to COVID drag

TOKYO, April 5 (Reuters) – Japan’s services sector activity contracted for the third consecutive month in March as the coronavirus pandemic weighed on demand, while the Russia-Ukraine war cast doubt on perspectives. The pace of contraction slowed from the previous month, however, signaling that domestic demand was helped by the easing of pandemic curbs in […]