Thursday, 4 October 2007

Service sectors slowing

The US economy continues to grow but at a slower pace. Reuters reports the latest economic data.

ISM said its index on service activities slipped to 54.8 in September, its lowest since March, from August's 55.8...

The employment component in the ISM non-manufacturing report rose to 52.7 in September from 47.9 in August...

Private employers added 58,000 jobs last month, in line with forecast, according to the ADP National Employment Report. It also lowered its August reading to a 27,000 increase from the initial 38,000...

Planned corporate layoffs fell almost 10 percent in September from August, led by job cuts tied to housing, said job consulting firm Challenger, Gray & Christmas. Last month's announced layoffs were 28.5 percent less than a year ago.

Europe is also seeing a slowdown, with the UK services PMI falling to 56.7 in September from 57.6 in August and the eurozone services PMI falling to 54.2 in September from 58.0 in August. Retail sales in the euro zone had also slowed in August, growing 0.1 percent compared to 0.4 percent in July.

The declines in the services indices left the JP Morgan Global All-Industry Output index at 54.7 in September, down from 56.2 in August and its lowest level since March.

2 comments:

Cemme said...

Nice report! I may add you to my links, if you don't mind.

lim said...

Sure, go ahead.

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