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ADP June payroll growth slows to 98,000, led by healthcare and education
economy20 days ago

ADP June payroll growth slows to 98,000, led by healthcare and education

ADP reported June private payrolls rose 98,000, below May’s 122,000 and the 110,000 forecast, with 48,000 of the gains coming from education and health services and almost all of the rest in services; leisure and hospitality added just 2,000. Wage growth stayed at 4.4% for those who stayed and 6.6% for job switchers, with hiring concentrated among small firms (under 50 employees). The reading provides a preview of the upcoming BLS nonfarm payrolls release.

via CNBC|
#adp#economy#education-and-health-services
China's Manufacturing and Service Sectors Show Mixed Recovery Signs in December
economy6 months ago

China's Manufacturing and Service Sectors Show Mixed Recovery Signs in December

China's services sector growth slowed to a six-month low in December, with new business and foreign demand declining, although business sentiment remains optimistic for 2026. Companies continue to cut staffing and face rising input costs, while lowering prices due to intense competition, amid ongoing economic challenges like property downturns and deflation.

via Reuters|
#china#economic-growth#economy
UK Economy Grows 0.3% in Q2 Despite Slower Pace
business11 months ago

UK Economy Grows 0.3% in Q2 Despite Slower Pace

UK economic growth slowed to 0.3% in Q2 but exceeded forecasts, driven mainly by services and construction, with positive revisions for April. Experts suggest weather and consumer confidence helped, but concerns remain over global economic impacts, business investment, and potential tax hikes. The Bank of England may delay rate cuts amid inflation concerns, while forecasts for the rest of 2023 remain cautious.

via BBC|
#business#growth-rate#inflation
US Trade Deficit Shrinks to Two-Year Low Amid Tariff Impact
economy11 months ago

US Trade Deficit Shrinks to Two-Year Low Amid Tariff Impact

The US trade deficit narrowed to a two-year low in June, driven by a sharp decline in imports, especially from China, amid ongoing tariffs that have increased overall US tariffs to levels not seen since 1934. While the trade gap with China has significantly decreased, the tariffs are also impacting the US services sector, causing signs of softening and increased costs, which raises concerns about potential stagflation.

via Reuters|
#economic-impact#economy#services-sector
UK Inflation Steady, Dimming Hopes for August Rate Cut
economics2 years ago

UK Inflation Steady, Dimming Hopes for August Rate Cut

Despite inflation returning to target levels, the Bank of England remains cautious about cutting interest rates due to persistent inflationary pressures in the services sector. While goods prices are in deflation, services inflation, particularly in restaurants, cafes, rents, and hotels, remains high. This has led to a reduced likelihood of a rate cut at the next policy meeting, with financial markets adjusting expectations accordingly.

via The Guardian|
#bank-of-england#economics#inflation
UK Inflation Steady at 2%, Rate Cut Uncertain
economy2 years ago

UK Inflation Steady at 2%, Rate Cut Uncertain

UK inflation held steady at the Bank of England's 2% target in June, surpassing analyst expectations of 1.9%. Services inflation remained high at 5.7%, while core inflation was stable at 3.5%. Higher restaurant and hotel prices contributed to the inflation, while clothing and footwear costs declined. The Bank of England's potential interest rate cut in August is uncertain due to persistent services inflation and wage growth pressures.

via CNBC|
#bank-of-england#economy#inflation
US Business Activity Surges in May, Prices Climb
business2 years ago

US Business Activity Surges in May, Prices Climb

U.S. business activity surged to its highest level in over two years in May, driven by the services sector, according to S&P Global's flash U.S. Composite PMI Output Index. However, manufacturers reported rising input prices, indicating potential future inflation. Despite increased business confidence, companies remain cautious due to uncertainties over inflation, interest rates, geopolitical issues, and the upcoming presidential election.

via Yahoo Finance|
#business#business-activity#inflation
"US Services Sector Sees Slower Input Price Increase as Private Payrolls Exceed Expectations in March"
economics2 years ago

"US Services Sector Sees Slower Input Price Increase as Private Payrolls Exceed Expectations in March"

The US services industry growth slowed in March, with the Services PMI falling to 51.4 and the prices paid by businesses for inputs dropping to a four-year low, indicating a gradual moderation in inflation. Despite easing labor market conditions, skilled workers remain in short supply, particularly in industries like construction. The Federal Reserve is expected to start cutting rates this year, depending on inflation behavior. The survey's measure of new orders received by services businesses slipped, while production remained strong. Additionally, the ADP National Employment Report showed a significant increase in median wages for workers switching jobs, suggesting a willingness of companies to pay up for new hires.

via Reuters|
#economics#federal-reserve#inflation
finance2 years ago

"European Stocks Slide as Weak China Data Dampens Optimism"

European stocks retreated for the fifth consecutive day following disappointing data from China, which raised concerns about the country's fragile economic recovery. The Stoxx 600 dropped 0.7%, while futures on US equities also declined. China's services sector experienced its slowest growth this year in August, indicating a loss of momentum in the economic recovery and dampening earlier optimism over government stimulus measures. The MSCI Asia Pacific Index also fell, with Hong Kong shares leading the declines. Traders are now focusing on euro area PMI data and ECB President Christine Lagarde's speech for further market direction.

via Yahoo Finance|
#china-data#economic-recovery#european-stocks
China's Services Sector Hits Eight-Month Low in August
economy2 years ago

China's Services Sector Hits Eight-Month Low in August

China's services sector experienced a decline in business activity in August, reaching its lowest level in eight months, despite the implementation of economic stimulus measures. The Caixin China general services purchasing managers index (PMI) dropped to 51.8, indicating contraction, with weaker foreign demand for Chinese services being a contributing factor. This aligns with the official August PMI data, which also showed a slowdown in demand for services. Concerns about slower growth have arisen as economic growth in China has stalled since April, prompting the government to introduce initiatives to restore confidence in the economy.

via CNN|
#business-activity#china#economic-stimulus
India's Economy Surges with 8% GDP Growth in Q1, Despite Monsoon Concerns
economy2 years ago

India's Economy Surges with 8% GDP Growth in Q1, Despite Monsoon Concerns

India's economy grew at its fastest pace in a year in the April-June quarter, with GDP expanding by 7.8% on an annual basis, driven by strong services activity and robust demand. However, a drier than normal monsoon season could pose a risk to future growth. Despite policy tightening by the Reserve Bank of India, the services sector and construction activity showed strong growth. Economists cautioned that dry conditions may impact the agriculture sector and constrain spending, while retail inflation in July reached its highest level in 15 months due to rising vegetable and cereals prices.

via CNN|
#economy#gdp-growth#india