Service sector

The oil services sector added jobs for the fifth consecutive month in July

world oil The U.S. energy technology and services sector added about 6,082 jobs in July, a fifth consecutive month of growth, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis from the Energy Workforce & Technology Council (Council). . Source: Houston Chronicle The 1.0% growth comes after the sector added more […]

Service sector

German service sector grows at record pace after lockdown lifted | Investment News

BERLIN (Reuters) – Activity in Germany’s services sector grew in July at the fastest pace on record, a survey showed on Wednesday, as businesses benefited from the reopening of the economy after the lifting of lockdowns. restrictions related to COVID-19. IHS Markit’s final Services Purchasing Managers’ Index (PMI) measuring activity in the sector rose to […]

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 services companies – 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, -2.03% lowered its GDP forecast by one percentage point in […]

Service sector

Biofuels gain traction in UK offshore wind services sector

Biorefinery facility for manufacturing HVO (file image courtesy of Neste) Posted on Jul 23, 2021 5:23 PM by The maritime executive A second-generation biofuel derived from used vegetable oils is gaining traction in the UK’s offshore wind industry, which – despite its strong green credentials – still has to rely on diesel-powered crew transfer vessels […]

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

Japan’s service sector activity contracts for 17th month as recovery stalls

TOKYO, July 5 (Reuters) – Japan’s services sector activity shrank for the 17th straight month in June as the coronavirus dampened domestic and foreign demand, underscoring the sluggishness of the world’s third-largest economy. The decline in the services industry has kept overall private sector activity contracting for a second month, a sign that the country’s […]

Service sector

Report shows hiring continues in oil services sector

As the COVID-19 pandemic crippled global economies last year, a collapsing oil industry shed jobs. At its peak, the Energy Workforce & Technology Council estimates that the energy technology and services sector lost nearly 102,000 jobs. Reopening economies, rising demand for oil, and oil prices above $60 have helped restore some of those jobs. The […]

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 service business activity fell to 46.4 in May […]

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

Services-sector activity jumped at record pace in May, New York Fed survey shows

A waiter fills a glass at the Mediterranean seafood restaurant Estiatorio Milos at the Hudson Yards as restaurants have resumed indoor dining at 25% capacity due to the coronavirus disease (COVID-19) in Manhattan , New York, U.S. September 30, 2020. REUTERS/Andrew Kelly Join now for FREE unlimited access to Reuters.com Register May 18 (Reuters) – […]

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

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

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

UK service sector optimism hits highest level since 2006 | Service sector

Optimism in the services sector improved for the fourth consecutive month in February to its highest level since 2006, reflecting hopes that the rollout of the Covid-19 vaccine will lead to a strong economic rebound. The IHS Markit survey found business leaders plan to expand their business over the next 12 months despite several months […]

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

Oil service sector cuts more than 103,000 jobs during pandemic

The oil services sector has lost more than 103,400 jobs nationwide during the coronavirus pandemic, dragging services employment to the lowest level since the last oil crisis of 2014-16. Oil service companies shed just 2,600 jobs in August, a sign that job losses in the sector are slowing since the worst of the crude demand […]

Service sector

COVID-19 service sector job cuts expected to hit younger workers harder

A Boston restaurateur inspects his empty establishment. (Craig F. Walker/The Boston Globe via Getty Images) COVID-19 and the coronavirus that causes it are not only a public health crisis but also a economic. With calls for social distancing, service sector jobs that depend on customer-supplier interactions or involve the gathering of large numbers of people […]