Service sector

Japan lowers fourth-quarter GDP due to weak service sector

Q4 GDP +4.6% annualized vs f’cast +5.6% Private consumption revised down to +2.4%, capex at +0.3% Revision reflects lower-than-expected services spending War in Ukraine raises risk of contraction in first quarter – analysts TOKYO, March 9 (Reuters) – Japan’s economic rebound was weaker than initial estimates in the final quarter of 2021, revised data showed […]

Service sector

Japan’s January unemployment rate rises as COVID hits service sector

January unemployment rate 2.8% vs f’cast 2.7% Ratio Jan jobs-candidates 1.20 vs f’cast 1.16 Service sector jobs hit by Omicron outbreak Manufacturers may be hesitant to hire crisis analyst in Ukraine TOKYO, March 4 (Reuters) – Japan’s unemployment rate rose to 2.8% as soaring coronavirus infections and mobility restrictions hit service sector activity, although a […]

Service sector

US service sector slows further in February – ISM survey

WASHINGTON, March 3 (Reuters) – A measure of U.S. service industry activity fell to its lowest level in a year in February and employment contracted, suggesting a slowdown in economic growth at the end of 2021 persisted beyond the disruption of the winter surge of COVID -19 cases. The Institute for Supply Management said Thursday […]

Service sector

Japan’s service sector activity contracts at fastest pace in 21 months – PMI

TOKYO, March 3 (Reuters) – Japan’s services sector activity shrank in February at the fastest pace in nearly two years, a survey showed on Thursday, as businesses were hit by consumer sentiment struggling after a record spike in infections with the Omicron variant of the coronavirus. . The contraction in activity highlights the challenge Japanese […]

Service sector

Texas economy sees mixed recovery as service sector growth slows

As Texas’ economy continues to recover amid the grueling coronavirus pandemic, there are signs that the state’s service sector still faces challenges. This is the result of a new survey from the Federal Reserve Bank of Dallas indicating that the performance of the services sector fell considerably in January. However, manufacturing activity in the state […]

Service sector

Services sector rebounds in January as Omicron curbs easing

The UK’s service sector recovery gained momentum last month as restrictions on Omicron coronaviruses and the number of cases fell, new figures show. The closely watched IHS Markit CIPS UK Services PMI survey scored 54.1 in January, rebounding from a 10-month low of 53.6 in December. Any score above 50 indicates growth in the sector. […]

Service sector

US service sector slows in January; input prices remain high – ISM survey

A barista prepares coffee for a customer in Houston, Texas, U.S., March 10, 2021. REUTERS/Callaghan O’Hare Join now for FREE unlimited access to Reuters.com Register WASHINGTON, Feb 3 (Reuters) – A measure of U.S. service sector activity fell to an 11-month low in January as a resurgence in COVID-19 infections hurt demand in high-contact businesses […]

Service sector

Removal of Covid curbs boosts service sector growth

Growth in the country’s services sector accelerated in January as some companies reported a recovery in business conditions and consumer confidence after nearly all Covid-19 restrictions were lifted, according to a survey released today. . The AIB IHS Markit Purchasing Managers Index (PMI) fell from 55.4 in December to 56.2 in January. The rate of […]

Service sector

Japan’s service sector shrinks at fastest pace in 5 months – PMI

Customers eat lunch at restaurants next to a record store which has a large poster on its wall in Tokyo, Japan, July 4, 2018. REUTERS/Kim Kyung-Hoon Join now for FREE unlimited access to Reuters.com Register TOKYO, Feb 3 (Reuters) – Japan’s service sector activity contracted at the fastest pace in five months in January, a […]

Service sector

Japan’s service sector shrinks at fastest pace in 5 months – PMI | Investment News

TOKYO (Reuters) – Japan’s service sector activity contracted at the fastest pace in five months in January, a sign that businesses have come under pressure from a record rise in new coronavirus infections due to the Omicron variant. The world’s third-largest economy has seen COVID-19 cases rise in recent weeks, forcing the government to roll […]

Service sector

According to an economic study, the gross value added of the services sector is expected to increase by 8.2% in FY22

The services sector has contributed over 50% of India’s GDP, pointed out the 2021-22 economic survey which was tabled by Union Minister of Finance and Trade, Smt. Nirmala Sitharaman in Parliament today. The survey also noted that the services sector recorded a steady recovery in the first half of the current fiscal year. […]

Service sector

UK economy falters as Omicron wave hits service sector

Britain’s economy faltered in January, a closely watched survey showed on Monday, after the rapid spread of Omicron weighed heavily on the services sector. the flash IHS Markit/CIPS UK Composite Output Index fell to an 11-month low of 53.4, from December’s final reading of 53.6. Most analysts were expecting a rise, with consensus at 54.0. […]

Service sector

Omicron Pushes UK Business Growth to Low in 11 Years | Economy

The UK economy grew at its slowest pace for nearly a year in January as hospitality, leisure and travel businesses felt the impact of the Omicron variant. The monthly flash PMI (Purchasing Managers Index) estimate of activity from IHS Markit and the Chartered Institute of Procurement and Supply reported a two-speed recovery with an easing […]

Service charge

Portland restaurant Kachka swaps tips for automatic service charge in new employee equity plan

Your browser does not support the audio element. Kachka, a southeast Portland restaurant featuring Russian cuisine, co-owned by Bonnie Morales and Israel Morales, Jan. 14, 2022. Starting in January, the restaurant replaced tipping with a 22% service charge and will pay guests employees a minimum wage of $25 per hour and provide free health care. […]

Service sector

Omicron Brings UK Service Sector Growth to Lowest Level in 10 Months Amid Wave of Cancellations Business

Growth in the UK service sector fell to its lowest level in 10 months as the emergence of the Omicron variant slowed the UK recovery. December was the worst month for the UK services economy since February 2021, when the last lockdown, according to data firm IHS Markit. Service companies suffered a sharp drop in […]

Service sector

UK service sector collapses to ten-month low following Omicron impact

Service providers in the UK had a difficult December as the Covid-19 variant Omicron saw spending on face-to-face consumer services sharply lower due to business uncertainty and staff absences. As a result, commercial activity at the end of 2021 was the weakest since the start of the rebound in containment measures last spring. This is […]

Service sector

UK service sector growth slows to 10-month low amid Omicron

UK service sector growth hit a 10-month low in December as the Omicron Covid variant took its toll, according to a survey released on Thursday. the IHS Markit/CIPS The services purchasing managers’ index fell to 53.6 from 58.5 in November, reaching its lowest level since February. Still, it remained above the 50.0 mark that separates […]

Service sector

Gold Price Unable to Trim Fed-Related Losses Despite U.S. Services Sector Weakening Expectations

(Kitco News) Gold was trading near daily lows as momentum in the services sector was weaker than expected in December, according to the latest data from the Institute of Supply Management (ISM). The non-manufacturing purchasing managers’ index was at 62% last month, down from November’s all-time high of 69.1%. The 7.1 percentage […]

Service sector

Hospitality companies saw Omicron hit in December as service sector growth slowed

The problems faced by travel, leisure and hospitality businesses across the UK have worsened in the past month, according to a respected monthly survey. Growth in the services sector slowed to its lowest point since February as the Omicron variant of Covid-19 swept across the country in December. The UK broke its previous record for […]

Service sector

Return to CERB-level financial support needed for service sector, says Hamilton restaurant worker

Hamilton restaurant worker believes a return to the level of funding previously offered by the Canada Emergency Benefit (CEP) would greatly help food industry workers and businesses as the province grapples with a record number of COVID-19 cases linked to the Omicron variant. The ECP ended in October 2020 and was replaced by the Canada […]

Service sector

The mood of the services sector in Japan is improving; Omicron, cost-rising cloud outlook

People cross a street in Tokyo on March 18, 2015. . REUTERS/Yuya Shino/File Photo Join now for FREE unlimited access to Reuters.com Register Improved large maker mood stands – tankan Sentiment for major service sector companies improves to 2-year high Companies expect conditions to deteriorate in the future due to rising costs Large companies plan […]

Service sector

The mood of the services sector in Japan is improving; Omicron, rising Cloud Outlook costs | Investment News

By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – Japan’s service sector sentiment improved to a two-year high but manufacturers’ recovery has stalled, a closely watched central bank survey showed, a sign that the rise raw material costs weighed on the economy’s recovery from the pandemic. Major companies expect conditions to deteriorate going forward as […]

Service sector

U.S. service sector growth hits new highs in November

Growth in the service sector, where most Americans work, hit a record high in November, topping a record set the previous month. The Institute for Supply Management reported Friday that its monthly survey of service industries rose 2.4 percentage points in November from October’s record high of 69.1%. Any reading above 50 indicates growth. Part […]

Service sector

UK service sector boosted by export sales and new business growth

Prices charged by companies in the service sector rose at a record pace during the period thanks to soaring inflation, rising fuel prices and rising wages. Photo: Stu Forster/Getty The UK saw a strong pick-up in activity in the services sector in November, boosted by a sharp rise in exports and growth in new businesses. […]

Service sector

US service sector growth hits new highs in November – Orange County Register

Growth in the service sector, where most Americans work, hit a record high in November, topping a record set the previous month. The Institute for Supply Management reported Friday that its monthly survey of service industries rose 2.4 percentage points in November from October’s record high of 69.1%. Any reading above 50 indicates growth. The […]

Service sector

US service sector activity indicator hits record high in November – ISM survey

Customers drink and dine inside “Martha” restaurant after showing proof of coronavirus disease (COVID-19) vaccination before entering, in Philadelphia, Pennsylvania, United States on August 7, 2021 REUTERS / Hannah Beier Register now for FREE and unlimited access to Reuters.com Register WASHINGTON, Dec. 3 (Reuters) – A measure of U.S. service sector activity unexpectedly rose in […]

Service sector

UK service sector driven by export sales and new business growth

Prices charged by firms in the service sector rose at a record rate during the period thanks to soaring inflation, rising fuel prices and wage increases. Photo: Stu Forster / Getty The UK saw a strong recovery in service sector activity in November, spurred by a sharp rise in exports and growth in new businesses. […]

Service sector

UK service sector continues to grow as costs rise at record pace

Consumer services and business and professional services have seen their costs rise at the fastest rate in the history of the survey, which began in 1998. Photo: Mark Case/Getty Images Optimism continued to improve in the UK services sector in the three months to November, despite costs growing at the fastest pace since records began. […]