Category: service sector

UK Service Sector Hikes Prices and Sees Supply Chain Hit to New Orders

October 5, 2021
Business & EconomyEconomiesPMIservice sectorUKWorld
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UK service sector firms hiked prices at a record pace last month as they battled against surging cost pressures and a slump in new orders due to supply and staff shortages, new figures have shown. The closely watched IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) survey revealed that new order growth weakened for the…

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Service Sector Activity Gauge Hits Record High, Price Index Surges: ISM Report

August 4, 2021
BusinessEconomieseconomyinflationMarketsservice sectorUSUS News
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A measure of U.S. service sector activity surged to a record high in July while an index reflecting prices paid by service industry businesses accelerated sharply, marking another milestone on the path to economic recovery but reinforcing concerns about inflation. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index climbed from…

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US Service Sector Activity Near 2-Year High in January: ISM Survey

February 4, 2021
BusinessEconomieseconomyservice sectorU.S. economyUS
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WASHINGTON—U.S. services industry activity raced to its highest level in nearly two years in January, with growth in new orders and employment accelerating, raising cautious optimism that the beleaguered sector was turning the corner. The Institute for Supply Management (ISM) said on Feb. 3 its non-manufacturing activity index increased to a reading of 58.7 last…

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US Service Sector Regains Speed in December: ISM Survey

January 7, 2021
Businesseconomic recoveryEconomieseconomyservice sectorU.S. economyUS
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WASHINGTON—U.S. services industry activity accelerated in December, but sky-rocketing COVID-19 infections depressed employment, heightening the risk that the economy shed jobs for the first time since the labor market recovery from the pandemic started. The Institute for Supply Management (ISM) said on Thursday its non-manufacturing activity index increased to a reading of 57.2 last month…

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