Service sector

Texas service sector sees significant acceleration in February – Corridor News

Staff AActivity in the Texas service sector rose sharply in February, according to business executives who responded to the Texas Service Sector Outlook Survey. The earnings index, a key measure of conditions in the utilities sector, rose from 2.8 in January to 21.9 in February. Labor market indicators point to an acceleration in the pace […]

Service sector

Marginal growth in India’s services sector in February; job losses continue

“Rising from 51.5 in January to 51.8 in February, India’s seasonally adjusted index of service business activity indicated a moderate rate of expansion slightly faster than in January. The recovery was attributed by panelists to larger bookings, better demand conditions and a receding pandemic,” the IHS Markit survey noted. “That said, the latest increase has […]

Service sector

India’s services sector PMI rises to 51.8, composite PMI to 53.5 in February

India’s service sector output fell from 51.5 in January to 51.8 in February, indicating a moderate rate of expansion, according to a report by IHS Markit. Larger bookings, better demand conditions and the receding pandemic drove this moderate expansion. Meanwhile, the composite PMI output rose to 53.5 in February from 53.0 in January, signaling a […]

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

UK service sector growth hits highest level in 8 months as Omicron wave fades

UK services sector: The rates of expansion in business activity and new orders accelerated sharply during the month, supporting stronger job creation. Photo: Rob Pinney/Getty Images UK service sector growth rebounded to an 8-month high in February amid increased activity and new orders as the Omicron wave subsided. According to IHS Markit’s PMI of business […]

Service sector

US service sector growth unexpectedly shows continued slowdown in February

(RTTNews) – U.S. service sector activity unexpectedly grew at a slower pace in February, according to a report released Thursday by the Institute for Supply Management. The ISM said its services PMI fell to 56.5 in February from 59.9 in January. While a reading above 50 still indicates growth in the services sector, economists expected […]

Service sector

China’s service sector growth hits 6-month low

China’s services sector grew at the slowest pace in six months in February due to a further decline in overall new business amid the ongoing pandemic and virus control measures, the results of an IHS Markit survey revealed on Thursday. The Caixin Services Purchasing Managers Index fell to 50.2 in February from 51.4 in January. […]

Service sector

Texas service sector sees significant acceleration in February

March 1, 2022 Texas service sector sees significant acceleration in February What’s new this month For this month’s survey, Texas business leaders answered additional questions about supply chain disruptions. 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

Dr. Shukla – FBC News

While all sectors play an important role in economic development, the service sector has a lot of potential. This was pointed out by Fiji National University College of Business and Hospitality Assistant Professor Dr. Avanish Shukla. Dr Shukla believes the pandemic has taught us valuable lessons that countries shouldn’t rely too heavily on just a […]

Service sector

China introduces support measures for struggling service sector

Chinese regulators on Friday introduced measures to support the country’s service sector, a persistent lag in its pandemic recovery, as the economy faces renewed downward pressure. Led by the country’s state planner, the authorities have rolled out a series of measures, including tax breaks and additional financial support for struggling companies in the service sector. […]

Service sector

Texas began quietly offering free childcare to service workers late last year

Last October, the state of Texas quietly rolled out a crucial safety net for thousands of parents working in the service sector: free child care. Under the Service Industry Recovery Child Care program, the state pays a stipend to state-licensed child care providers for parents earning 75% or less of the Texas median income and […]

Service sector

Beijing to deepen opening-up efforts in service sector

Beijing will further deepen its efforts to open up in the service sector and make cross-border trade more convenient based on the achievements from the capital’s “two-zone” construction project, officials said on Feb. 10. The two zones are a demonstration zone for the service industry in the capital, approved by the central government in 2015, […]

Service sector

In January 2022, China’s service sector falls to a 5-month low

As Covid-19 surges and severe restrictions disrupted consumer spending, a private barometer of China’s services industry fell to its lowest level in five months earlier this year. According to Caixin Media Co. and research firm IHS Markit, the Caixin China Services Purchasing Managers Index fell to 51.4 in January from 53.1 in December. Nonetheless, the […]

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

India’s services sector PMI slows to 51.5, composite PMI to 53 in January

India’s service sector output was recorded at 51.5 in January, down significantly from 55.5 in December. IHS Markit in its report said the overall figure indicated the slowest expansion in the current six-month growth streak. Meanwhile, the composite PMI output fell from 56.4 in December to 53.0 in January, the slowest rate of expansion in […]

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

Services sector most affected due to Covid; Financial and housing rebound to pre-pandemic levels: economic survey

New Delhi: Minister of Finance of the Union Nirmala Sitharaman filed the Economic survey 2021-22 in Lok Sabha before Union budget Monday. The economic survey said the services sector has been hardest hit due to the Covid-19 pandemic, but financial, real estate and professional services have now recovered and are back to where they were […]

Service sector

Growth in Japan’s service sector activity slows in December

TOKYO (CNA) — Japan’s service sector activity grew at a slower pace in December as new and in-progress business growth slowed and expectations for the next 12 months bottomed out. level in four months. The world’s third-largest economy is set to rebound in the final quarter of last year after COVID-19 cases plummeted as it […]

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

Omicron Drives UK Service Sector Growth to Lowest Level in 10 Months – business live | Business

Hello and welcome to our continued coverage of the global economy, financial markets, euro area and business. Stock markets are collapsing today after the US central bank revealed it may raise interest rates sooner or faster than expected, to bring US inflation under control. The minutes of the Federal Reserve’s December meeting, released last night, […]

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

Japan’s service sector activity growth slows in December -PMI

People sit at a restaurant using plexiglass dividers to protect customers from coronavirus disease (COVID-19) in the Shibuya area of ​​Tokyo, Japan on July 29, 2021. REUTERS / Androniki Christodoulou Register now for FREE and unlimited access to Reuters.com Register TOKYO, Jan.6 (Reuters) – Activity in the service sector in Japan grew at a slower […]

Service sector

Services Sector and Composite PMIs Offer Euro Support Despite Difficulties in Services Sector

It was another busy economic calendar for the eurozone this morning. The focus of attention was on the Member States and euro area services sector and composite PMIs. Member States For Spain, the services PMI fell from 59.8 to 55.8 against a forecast of 57.5. Activity in the service sector in Italy also grew more […]

Service sector

Growth in Japan’s service sector activity slows in December – PMI | Investment News

TOKYO (Reuters) – Japan’s service sector activity grew at a slower pace in December as growth in new and in-progress business slowed and expectations for the next 12 months hit their lowest level in four months. The world’s third-largest economy is set to rebound in the final quarter of last year after COVID-19 cases plummeted […]

Service sector

Supply chain issues may be easing, but the service sector still has some way to go

There’s a question we keep asking as the effects of the pandemic wane…then rise…then rise again: Is this economy more asset-driven—despite all this blockchain madness? supply – or by services? This week, we took a look under the hoods of these two sectors. On Monday, the PMI for the manufacturing sector came out, followed on […]

Service sector

India’s services sector sees weak expansion in December; Services PMI falls to 3-month low

India’s seasonally adjusted index of services business activity fell to a low of 55.5 in December, according to IHS Markit, from 58.1 the previous month. India’s services sector experienced slow expansion in December, with the services PMI falling to its lowest level in three months, continuing the trend of a bumpy year, according to a […]

Service sector

Caution is in order as the economic recovery is led by the service sector while manufacturing stagnates

The service sector is driving the continued economic recovery as manufacturers grapple with ongoing supply chain issues. The Natwest Yorkshire and Humber Business Activity Index showed continued strong growth – the strongest for five months – but those behind the analysis said it masked stagnant output. Inflation is also soaring as prices have risen at […]

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

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

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

Services sector growth slows slightly as business optimism hits year low

UK service sector growth slowed slightly in November and industry sentiment fell to a 12-month low amid staff shortages and supply chain pressure, according to new numbers. However, the statistics also showed the industry continued its recovery, with companies reporting the fastest rise in new business in the past five months. The closely watched IHS […]

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

Japan’s service sector activity grows at fastest pace in 2 years

TOKYO: Japan’s service sector activity grew at the fastest pace in more than two years in November on the back of a jump in new business, signaling stronger consumer confidence as the coronavirus pandemic subsided. The world’s third-largest economy has lagged other advanced nations in its recovery from the pandemic’s hit with the coronavirus dampening […]

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

Japan’s service sector activity is growing at the fastest pace in 2 years

A couple is seen sitting at an outdoor table in a restaurant in the Ikebukuro area amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, August 2, 2021. REUTERS / Androniki Christodoulou Register now for FREE and unlimited access to Reuters.com Register TOKYO, Dec.3 (Reuters) – Japan’s service sector activity grew at the fastest pace […]

Service sector

Japan’s Service Sector Activity Grows at Fastest Pace in 2 Years | Investment News

TOKYO (Reuters) – Japan’s service sector activity grew at the fastest pace in more than two years in November on the back of a jump in new business, signaling stronger consumer confidence as the coronavirus pandemic s soothed. The world’s third-largest economy has lagged other advanced nations in its recovery from the pandemic’s hit with […]

Service sector

bne IntelliNews – Service sector and government spending save Hungary’s third-quarter GDP

Hungary’s third-quarter GDP grew 0.7% on a quarterly basis and 6.1% in annual terms, decelerating by 2.7% and 17.8% in the second quarter respectively, the Bureau of Statistics reported. KSH statistics, confirming the preliminary data in second reading on December 1. Both figures were well below estimates. Detailed data revealed weaknesses in the structure of […]

Service sector

Service sector continues recovery in quarter to November, but costs see record growth – CBI

According to the latest CBI Services Sector Survey, optimism has improved for businesses in the services sector in the three months to November. However, cost growth in both subsectors continued to accelerate, advancing at the fastest rate since surveys began in 1998. . For business services firms and professional services firms, sentiment about business conditions […]

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. […]

Service sector

Consumption and demand in the service sector played a key role in the collapse of global COVID-19 trade

Consumption and demand in the service sector played a key role in the collapse of global COVID-19 trade The global economy and global trade flows have been hit hard by the COVID-19 crisis (Baldwin 2020, Liu et al. 2021). The trade collapse in Q2 2020 was even more severe than during the trough of the […]

Service sector

4 mutual funds to choose from as U.S. service industry hits record high

The US economy is gradually recovering from the crisis caused by the coronavirus pandemic. Strong job additions are boosting the economy and supporting the manufacturing and service sectors. Indeed, the growth of the US service sector was higher than expected in October. According to the Institute for Supply Management (ISM) report from November 3, the […]

Service sector

U.S. service sector grows at record pace in October

The rate of expansion of the service sector in the United States, where most Americans work, hit a record high in October as demand remained strong even as supply chain issues persisted. Through MATT OTT AP Business Writer November 3, 2021, 2:55 p.m. • 2 minute read Share on FacebookShare on TwitterEmail this article SILVER […]

Service sector

The US service sector index hits a record high in October; shortages are getting worse – ISM survey

Patrons drink and dine alfresco at “Martha” Restaurant in Philadelphia, Pennsylvania, United States on August 7, 2021. REUTERS / Hannah Beier Register now for FREE and unlimited access to Reuters.com Register WASHINGTON, Nov. 3 (Reuters) – A measure of U.S. service sector activity hit an all-time high in October, likely because lower COVID-19 cases boosted […]

Service sector

US service sector employment hit record highs in October

With shipping delays worsening and cargo backing up at ports in Los Angeles County, authorities are beginning to use freight trains to alleviate the problem. U.S. service-sector jobs hit record highs in October despite ongoing supply chain issues across the country. According to Wednesday’s report from the Institute for Supply Management, service industries — which […]

Service sector

Japan’s service sector activity increases for the first time during the pandemic | Investment News

TOKYO (Reuters) – Japan’s services sector activity rose for the first time in 21 months in October as consumer confidence rebounded after the end of the coronavirus pandemic, providing a broad-based boost to Requirement. In September, the government ended state of emergency restrictions to contain the health crisis, as new cases and deaths declined rapidly […]

Service sector

US Services Sector Index Reaches Record High in October; worsening shortages – ISM survey | Investment News

WASHINGTON (Reuters) – A measure of U.S. service industry activity hit a record high in October, likely as falling COVID-19 cases boosted demand, but businesses remained burdened by tight supply chains and the resulting exorbitant prices. The Institute for Supply Management said Wednesday that its non-manufacturing activity index reached 66.7 last month. It was the […]

Service sector

UK Flash PMI signals economy supported by service sector

bankkgraphie/iStock via Getty Images Flash PMI data shows the UK economy picking up speed in October. However, the expansion seems increasingly dependent on the service sector, which in turn seems subject to a slowdown amid the recent increase in COVID-19 cases, and has been accompanied by an unprecedented increase business costs, which led to a […]

Service sector

Growth in the services sector in France in October offset by the weakness of the manufacturing sector – PMI

PARIS, October 22 (Reuters) – Growth in France’s dominant services sector has been offset by weakness in manufacturers, a monthly survey showed on Friday, as supply chain issues plagued businesses. IHS Markit said its October services sector flash PMI for France rose to 56.6 from 56.2 in September, beating market forecasts of 55.5. However, October’s […]

Service sector

Brazil’s service sector grew in August against the tide

October 14, 2021 10:47 am 1 minute read The service sector in Brazil grew by 0.5% between July and August this year, which was the fifth consecutive positive result according to official data. During this five-month period, growth reached 6.5%, pushing the sector 4.6% above pre-pandemic levels and to its highest level since November 2015. […]

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

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

If service sector employers ever want to see their workers back, they need to do more than raise wages. They will have to help people move forward.

A Starbucks barista fills an order at a South Philadelphia store, before more than 8,000 branches nationwide close this afternoon for anti-bias training, in Philadelphia, Pennsylvania Mark Makela/Reuters The hospitality industry is struggling to fill vacancies. The sector can attract new talent by investing in education and training. Upskilling employees will also better prepare workers […]

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

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

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

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

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

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

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

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

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

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 […]