Tag: service sector

German exports lower than expected in July

German exports lower than expected in July

Statistics office Destatis has today revealed German exports and imports fell in July – more than expected. According to Destatis, exports fell by 1.8% in July on a monthly basis compared with a 1.2% drop in June. Economists had forecast a 0.1% fall for the month. The sharp fall in exports will be of grave [...]

September 8, 2011 | 0 Comments More
UK service sector activity suffers sharp drop in August

UK service sector activity suffers sharp drop in August

Growth in the UK’s closely-watched service sector slowed in August, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) slowed at the fastest pace in over a decade to 51.1 in August from July’s reading of 55.4. The fall represented the second largest on record and was much [...]

September 5, 2011 | 0 Comments More
UK service sector grows at stronger pace

UK service sector grows at stronger pace

Growth in the UK’s closely-watched service sector grew at the strongest pace in 4 months in July, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) surged to 55.4 last month from June’s reading of 53.9. The rise was unexpected after analysts had expected the index to fall [...]

August 3, 2011 | 0 Comments More
UK service sector growth sees slight rise in June

UK service sector growth sees slight rise in June

Growth in the UK’s closely-watched service sector rose slightly last month, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) edged higher to 53.9 in June from May’s three-month low of 53.8. The result confounded analysts’ expectations of a fall to 53.5. The index continues to remain above [...]

July 5, 2011 | 0 Comments More
UK service sector output contracts in April

UK service sector output contracts in April

Figures from the Office for National Statistics (ONS) have today revealed output in the UK’s closely-watched service sector dived in April. According to the ONS, service sector output contracted by 1.2% in April on a monthly basis – the biggest fall since January 2010 – when the country was hit by a severe snowfall. However, [...]

June 29, 2011 | 0 Comments More
Euro zone services sector sees slower growth

Euro zone services sector sees slower growth

A survey has revealed that activity in the euro zone services sector eased in May. The closely-watched Markit Purchasing Managers’ Index (PMI) services index edged lower to 56.0 in May from April’s reading of 56.7. However, the index remains above the crucial 50 mark, which separates growth from contraction and it has now been above [...]

June 5, 2011 | 0 Comments More
UK service sector activity sinks to 3-month low in May

UK service sector activity sinks to 3-month low in May

Growth in the UK’s closely-watched service sector slowed in May, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) eased to a 3-month low of 53.8 in May from 54.3 the previous month. Analysts had expected the index to be around the 54.0 level. However, the index remains [...]

June 3, 2011 | 0 Comments More
CBI: UK service sector firms show cautious optimism

CBI: UK service sector firms show cautious optimism

A survey by the CBI has revealed consumer service firms have been hit by a cut back on spending. According to the CBI, firms such as hotels, bars and restaurants, saw evidence of weak demand but are optimistic about future prospects as conditions are not expected to be as challenging in the coming quarter. Meanwhile, [...]

May 26, 2011 | 0 Comments More
Japan service sector activity plunges to 22-year low

Japan service sector activity plunges to 22-year low

The Ministry of Economy, Trade and Industry today revealed Japanese service sector activity slumped in March due to the earthquake and tsunami. The twin disasters, which occurred on 11 March, led to a fall in activity with the tertiary industry index, falling 6% to 93.5 from February’s 99.5. The decline is the steepest since April [...]

May 18, 2011 | 0 Comments More
UK service sector activity hits 13-month high in March

UK service sector activity hits 13-month high in March

Growth in the UK’s closely-watched service sector surged ahead in March, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) rose to a 13-month high of 57.1 last month - from February’s reading of 52.6. Analysts had expected the index to remain broadly unchanged. The reading means the [...]

April 5, 2011 | 0 Comments More
UK service sector activity slows in February

UK service sector activity slows in February

Growth in the UK’s closely-watched service sector slowed in February, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) fell to 52.6 in February from January’s eight month high of 54.5. Analysts had expected the index to hit a level of 54.0 in February. December saw a negative [...]

March 3, 2011 | 0 Comments More
UK service sector activity recovers in January

UK service sector activity recovers in January

Growth in the UK’s closely-watched service sector recovered in January - following the surprise contraction in December due to the disruption caused by bad weather. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) grew at its fastest pace in 8 months to 54.5 in January, from December’s 20-month low of 49.7. [...]

February 3, 2011 | 0 Comments More
BCC: Economic growth to slow in Q4

BCC: Economic growth to slow in Q4

The British Chambers of Commerce (BCC) has today warned of a fragile economic recovery in the UK with growth expected to slow in the final quarter of 2010. There has been suggestions that economic growth will be severely hampered because of the Government’s massive spending cuts. There is a possibility that the Bank of England’s [...]

January 11, 2011 | 0 Comments More
UK service sector activity in surprise contraction in December

UK service sector activity in surprise contraction in December

Growth in the UK’s closely-watched service sector contracted in December - suggesting a sharp slowdown in economic growth in the final quarter of 2010. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) fell to 49.7 in December, down from the reading of 53.0 in November. Not only did the sector endure [...]

January 6, 2011 | 0 Comments More
UK service sector growth eases in November

UK service sector growth eases in November

Growth in the UK’s closely-watched service sector eased slightly in November but still remained near October’s four-month high. The latest index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI fell to 53 in November, down slightly from the 53.2 recorded in October. However, the reading was in line with expectations and the index [...]

December 3, 2010 | 0 Comments More
UK services sector growth continues to slow

UK services sector growth continues to slow

Growth in the UK’s closely-watched service sector slowed further in July - by the slowest rate in 13 months. The latest index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI showed a reading of 53.1 in July, dipping from 54.4 in June. Not only did this represent the lowest level since June last [...]

August 4, 2010 | 0 Comments More
BoE expected to keep interest rates on hold

BoE expected to keep interest rates on hold

The Bank of England’s Monetary Policy Committee (MPC) is today expected to keep UK interest rates on hold at the historically low level of 0.5% for the 12th consecutive month. In addition, the Bank is expected not to inject any more money into the economy through its quantitative easing (QE) scheme. Last month, the Bank [...]

March 4, 2010 | 0 Comments More
UK service sector recovers after snowy January

UK service sector recovers after snowy January

The UK’s closely-watched service sector recovered in February after experiencing a dip in January as a result of bad weather disrupting services, as well as the VAT rise. The latest activity index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI showed a reading of 58.4 in February, up from 54.5 in January. Any [...]

March 3, 2010 | 0 Comments More
UK service sector shows fastest growth in two years

UK service sector shows fastest growth in two years

Hopes of an end to the recession have been heightened by September data from the Chartered Institute of Purchasing and Supply. New figures indicate that the UK service sector has grown at its fastest pace in almost two years, with the Institute’s Purchasing Managers’ Index (PMI) turning in a better than expected performance and increasing [...]

October 5, 2009 | 0 Comments More
US service sector falls to record low

US service sector falls to record low

Figures published by the Institute for Supply Management (ISM) have revealed that the US service sector hit the lowest level on record last month. The index fell far more than expected to 37.3 in November from 44.4 the previous month and is the lowest level since the series began in the 1997. The US service [...]

December 3, 2008 | 0 Comments More