Service sector

Services sector activity in the United States increased slightly in September; shortages persist – ISM survey

A trader wearing a protective mask walks, as the global outbreak of the coronavirus disease (COVID-19) continues, at the New York Stock Exchange (NYSE) in the financial district of New York, United States, 19 November 2020. REUTERS/ Shannon Stapleton Join now for FREE unlimited access to Reuters.com Register WASHINGTON, Oct 5 (Reuters) – U.S. service […]

Service sector

ISM says U.S. service sector activity increased in September

Dinners in a restaurant – Photo: Shutterstock Activity in the U.S. services industry edged up in September, but growth is being held back by a supply chain crisis that is driving up prices. The Institute for Supply Management (ISM) said its services activity index rose to 61.9 in September from 61.7 in August. Economists had […]

Service sector

UK service sector hikes prices and sees supply chain hit by new orders

UK service sector businesses raised prices at a record pace last month as they battled mounting cost pressure and a slump in new orders due to shortages of supply and staff, according to news reports. figures. The closely watched IHS Markit CIPS UK Services PMI survey found new order growth weakened for the fourth month […]

Service sector

Service sector expands for second month

India’s services sector expanded for a second consecutive month in September. The IHS Markit Services Purchasing Managers’ Index fell to 55.2 in September from 56.7 in August, but remained comfortably above the 50 mark separating growth from contraction. Business expectations remained positive on hopes the pandemic would continue to recede and restrictions ease, […]

Service sector

Opinion: Stable GDP numbers hide welcome signs of service sector recovery

The service sector is back, according to Canadian gross domestic product statistics last week.Graham Hughes/The Canadian Press Last week’s Canadian gross domestic product statistics, lackluster as they are, do not signal a recovery on the rocks. Growth doesn’t stand still, it evolves – in a very important and encouraging way. The service sector is back. […]

Service sector

Sector focus: service sector | CCR

The latest insights from the CBI Economics Industry Trends Survey. Sep 06, 2021, 3 min read Services sector split on outlook Optimism among companies in the services sector was mixed in the three months to August, according to the CBI’s latest quarterly services sector survey. While sentiment about the general business situation continued to improve […]

Service sector

COVID pandemic spurs rise of automation to fill service sector jobs – CBS San Francisco

LOS ANGELES (CBS/AP) – Ask for a roast beef sandwich at an Arby’s drive-thru in east Los Angeles and you might speak to Tori – an artificially intelligent voice assistant who will take your order and l will send to line cooks. “That doesn’t call for sick,” says Amir Siddiqi, whose family installed the voice […]

Service sector

Services sector grew fastest in August, after 18 months

India’s crucial service sectors are making a comeback in August, with business accelerating the fastest in the past 18 months. It comes after the pandemic appears to be subsiding, vaccination is ramping up and restrictions are lifted across the country, a survey reports. India’s services business activity index stood above 50 in August for the […]

Service sector

Growth slows in services sector as post-lockdown boom wanes

The UK services sector grew much slower than expected in August and at its slowest pace since March as demand returned closer to normal after a post-lockdown boom. Yet companies also said they were hiring at a rate not seen in at least the past quarter century. The IHS Markit CIPS UK Services PMI hit […]

Service sector

US job creation plummets and UK service sector slows as Delta Variant hits growth – as it happened | Business

US President Joe Biden delivers remarks on the August jobs report in the State Dining Room of the White House in Washington, DC. Photograph: Jim Watson/AFP/Getty Images President Joe Biden has now spoken about today’s jobs report and insisted the economy is strong enough to withstand the pandemic. Despite the impact of the Delta Variant, […]

Service sector

UK service sector growth is slowing due to staff shortages and supply chain disruptions

Hiring of staff has reached its highest level since the start of the survey in July 1996, as companies seek to replenish their workforces in response to rising sales. Photo: Dominic Lipinski/PA Images via Getty Images The UK services sector grew at its slowest pace since March last month, hit by staff shortages and supply […]

Service sector

Japan’s services sector activity in August contracts at fastest pace since May 2020 – PMI

Pedestrians wearing protective masks amid the coronavirus disease (COVID-19) outbreak walk on a street in Tokyo, Japan, February 2, 2021. REUTERS/Kim Kyung-Hoon/File Photo Join now for FREE unlimited access to Reuters.com Register TOKYO, Sept 3 (Reuters) – Japan’s service sector activity contracted at the fastest pace in more than a year in August as a […]

Service sector

Services sector divided on outlook – CBI

Optimism among companies in the services sector was mixed in the three months to August, according to the CBI’s latest quarterly services sector survey. While sentiment about the general business situation continued to improve in business and professional services, consumer services saw sentiment decline from the previous quarter. Business and professional services saw strong volume […]

Service sector

TIME OUT: The service sector continues to strengthen | Lifestyles

Today I’m going to talk with you about a topic that you’ve already been aware of since we started chasing this dreaded COVID-19 bug out of the room. Without a doubt, the deadly virus has caused incredible health problems all over planet Earth, and Our City has certainly been no exception. Many of us have […]

Service sector

Inflation and pingdemic slow UK service sector recovery | Service sector

Growth in Britain’s dominant service sector has slowed to its lowest level since March after businesses were hit last month by a triple whammy of bottlenecks, workers self-isolating and a less generous tax relief for homebuyers. The latest monthly health check for Britain’s service businesses – which make up just under 80% of the economy […]

Service sector

German service sector grows at record pace after lockdown lifted | Investment News

BERLIN (Reuters) – Activity in Germany’s services sector grew in July at the fastest pace on record, a survey showed on Wednesday, as businesses benefited from the reopening of the economy after the lifting of lockdowns. restrictions related to COVID-19. IHS Markit’s final Services Purchasing Managers’ Index (PMI) measuring activity in the sector rose to […]

Service sector

Goldman Sachs Cuts U.S. Growth Outlook Due to Service Sector Weakness

A number of categories in the service sector, including live entertainment, are still quite depressed and the transition to the office is faltering, so the U.S. economy will not be as robust this year as expected, investors said Monday. Goldman Sachs economists. Accordingly, Goldman GS, -1.20% lowered its GDP forecast by one percentage point in […]

Service sector

Services Sector Business Activity Increases in New York Area – New York Fed Survey

A family enjoys dinner at a restaurant during the outbreak of the coronavirus disease (COVID-19) in the Manhattan borough of New York, New York, U.S., March 25, 2021. REUTERS/Jeenah Moon Join now for FREE unlimited access to Reuters.com Register July 16 (Reuters) – New York-area service-sector businesses saw a further uptick in activity in early […]

Service sector

Shifting sands of recovery blur the path for the services sector | Service sector

Without a fuss, the UK financial services sector has returned to pre-pandemic levels and even added two percentage points of growth since February 2020, official figures showed last week. Banks and insurance companies may have reduced their workforces, but customers continued to borrow and save, making the sector one of the few to have exceeded […]

Service sector

Japan’s service sector mood improving, but novel COVID dampens cloud outlook

Customers eat sushi on a conveyor belt at a Kura Sushi restaurant in Tokyo, Japan, June 3, 2021. Picture taken June 3, 2021. REUTERS/Kim Kyung-Hoon/Files Join now for FREE unlimited access to Reuters.com Register Sentiment among ‘economy watchers’ up for first time in three months The government says the economy is picking up although the […]

Service sector

US service sector activity cooled in June; employment measurement contracts – ISM survey

WASHINGTON, July 6 (Reuters) – U.S. service-sector activity grew at a subdued pace in June, likely dampened by labor and raw material shortages, leading to a buildup continues unfinished work. The Institute for Supply Management said on Tuesday its non-manufacturing activity index fell to 60.1 last month from 64.0 in May, which was the highest […]

Service sector

Brazil PMIs show fastest growth in services sector since 2013 -IHS Markit

(Correct title) BRASILIA, July 5 (Reuters) – Private sector business activity in Brazil revived in June, a survey of purchasing managers showed on Monday, driven by the fastest pace of growth in the dominant services sector since more than eight years. New orders, new exports and employment in the services sector led the way, indicating […]

Service sector

Japan’s service sector activity contracts for 17th month as recovery stalls

TOKYO, July 5 (Reuters) – Japan’s services sector activity shrank for the 17th straight month in June as the coronavirus dampened domestic and foreign demand, underscoring the sluggishness of the world’s third-largest economy. The decline in the services industry has kept overall private sector activity contracting for a second month, a sign that the country’s […]

Service sector

Report shows hiring continues in oil services sector

As the COVID-19 pandemic crippled global economies last year, a collapsing oil industry shed jobs. At its peak, the Energy Workforce & Technology Council estimates that the energy technology and services sector lost nearly 102,000 jobs. Reopening economies, rising demand for oil, and oil prices above $60 have helped restore some of those jobs. The […]

Service sector

PMI – The New Indian Express

Through PTI NEW DELHI: India’s service sector business slumped into contractionary territory for the first time in eight months amid further declines in new jobs due to the escalating pandemic and the reintroduction of restrictions , a monthly survey said on Thursday. India’s seasonally adjusted index of services business activity fell to 46.4 in May […]

Service sector

US Services Sector Index at Record High in May; input costs soar – ISM survey

WASHINGTON, June 3 (Reuters) – A measure of U.S. services industry activity hit a record high in May amid strong demand as the economy heads for a full reopening, but businesses have struggle to source raw materials and labor, driving up production costs. The Institute for Supply Management (ISM) said on Thursday its non-manufacturing activity […]

Service sector

Inflation in the services sector at its highest since 1996

New figures suggest Britain is on track for a “breathtaking” jump in gross domestic product growth this quarter, experts say. The latest closely watched IHS Markit/CIPS Purchasing Managers’ Index showed growth in the recently reopened services sector rose at the fastest pace in 24 months in May. But, as many consumers and businesses will have […]

Service sector

Services sector fuels strong U.S. private sector job growth in May, ADP says

Numbers: US private sector employment jumped 978,000 in May, according to the ADP’s national economic report released Thursday. The gain was well above forecasts by economists polled by the Wall Street Journal who had expected a gain of 680,000 jobs. It’s the largest monthly gain since last June, when the economy began to reopen after […]

Service sector

Brexit caused UK services sector to shrink by more than £110bn

The UK’s decision to secede from the EU cost the export of services more than £110billion over a four-year period, new research shows. From 2016 to 2019, UK services exports were overall £113bn lower than they would have been if the UK had voted to stay in the EU. Researchers at Aston University in Birmingham […]

Service sector

The service sector sees better days ahead

Optimism in the services sector improved significantly in the three months to May, according to the CBI’s latest quarterly services sector survey. Sentiment in business and professional services saw record improvement this quarter, while optimism in consumer services rose at the fastest pace since May 2014. The picture was more mixed for volumes, with business […]

Service sector

UK service sector growth hits highest level in seven years as Covid restrictions ease | Service sector

The unleashing of pent-up demand has given Britain’s services sector its fastest monthly growth in more than seven years despite some signs of a flattening in activity over the past week, two separate snapshots showed economy. In its monthly health check, IHS Markit/CIPS reported sharp increases in consumer and business spending as lockdown restrictions were […]

Service sector

US service sector slows slightly in April – ISM survey

WASHINGTON, May 5 (Reuters) – U.S. service-sector activity grew at a slightly slower pace in April, likely held back by shortages of inputs amid booming demand fueled by massive fiscal stimulus and a rapidly improving public health environment. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index fell to 62.7 last […]

Service sector

Economic report of construction and service sector at record high

Economic indicators for industries such as construction are showing a “record high”. Construction was the fifth fastest growing sector in the report. “Demand for residential new home construction continues to outpace supply.” Construction companies reported the highest price increases for materials and services in March among 18 service industries. “All-time high” was the buzzword at […]

Service sector

Prices are rising widely in the massive service sector and companies are able to pass on these higher prices

The whole mentality has changed. By Wolf Richter for WOLF STREET. Services represent about two-thirds of the economy. During the pandemic, discretionary services such as travel and entertainment have been hit hard, and consumer spending on services in February was still down 5.2% from a year ago. But the services sector is huge, ranging from […]

Service sector

The services sector is the key to economic recovery after the coronavirus

Wall Street’s most optimistic economic forecasts hinge on a simple prediction: everyone will soon be returning to their local gyms, bars and yoga studios as if the pandemic is a thing of the past. A job boom in the vast service sector in the United States – the country’s largest employer, including software developers and […]

Service sector

Rapid change is coming to the service industry

Technology and “industrialization” are reshaping services as they have in manufacturing These days, with a global pandemic decimating jobs and trade, many of us can’t wait for the economy to get back to normal. But the “normal” – in the business sense, anyway – has itself evolved rapidly in recent years, and the wide range […]

Service sector

Definition of the service sector

What is the service sector? The service sector produces intangibles, specifically services instead of goods, and according to the US Census Bureau, it includes various service industries, including warehousing and transportation services; information services; securities and other investment services; professional services; Waste Management; health care and social assistance; and arts, entertainment and recreation. Countries whose […]