Page 2 - Services Sector

China's services sector activity squeezed by surge in Omicron cases

Activity in China's services sector contracted at the steepest pace in two years in March as the local surge in coronavirus cases restricted mobility and weighed on client demand

Need govt support, specific incentives for services sectors: Exporters

SEPC says travel, tourism and hospitality sectors need govt support

Japan service sector shrinks at fastest pace in 5 months, firms shed staff

Companies less optimistic that activity would rise over the next year, with positive sentiment reaching a five-month low: PMI survey.

Economic upturn lifts credit boat in all segments in December: RBI data

Services sector shows traction on rise in loan to finance firms

Economic Survey: Services sector resilient, to grow by 8.2% in FY22

Omicron could prove a hurdle, may particularly impact contact intensive segments, says Survey

Services sector credit growth still slow despite Covid relaxations

Broad-based credit expansion is expected over the next two to three quarters

Need 100 mn jobs in next 10 yrs to gain from demographic dividend: Experts

Tertiary sector is not going to generate most of these 100 million jobs; focus should be on manufacturing and formal sector

Services activities moderate in Sept but firms continue hiring: PMI survey

Increase in companies creating employment ended a nine-month sequence of job shedding.

Organised sector weathers second Covid wave on job front: Labour survey

Among industries, employment generated by the construction sector rose by 42% and the manufacturing sector by 22%

Entitlement under SEIS for services exports in FY20 capped at Rs 5 crore

The facility to claim benefits under SEIS on payments in Indian currency will not be available for services rendered in FY20

India formulating standards for services sector for high quality: Goyal

India is formulating standards for the services sector so that the country can have high quality of services to offer, Piyush Goyal said

India's economic recovery stumbles, setting stage for sustained low rates

A contraction in India's services sector deepened as localized curbs to control the virus spread hurt consumer demand and business activity

China's services activity growth slows in May to 55.1 from 56.3: Caixin PMI

China's services sector expansion slowed in May, a private sector survey showed on Thursday, with weaker overseas demand and increased costs putting pressure on businesses

Services activity at 1-yr high on rise in demand, favourable mkt conditions

If growth sustains in March, GDP may expand in Q4, contrary to official forecast

Services PMI rises to 52.8 in Jan on the back of demand, consumer optimism

That improved sentiment was in line with findings of a Reuters poll last month that predicted Asia's third-largest economy would recover from the Covid-19 crisis more strongly than previously thought

Labour turns to agri, construction as manufacturing fails to create jobs

Manufacturing accounted for 40 million jobs in 2019-20. In the first quarter this dropped to 24.6 million, implying a loss of over 15 million manufacturing jobs

Retail lending by banks shrinks sequentially in November, up 10% YoY

Within this space, vehicle loans continued to perform well, growing at an accelerated 10% this November, compared to 4.7% a year ago, RBI said in statement

Sharp 23.9% GDP fall in Q1 will take at least a year to recover: Economists

Current year will continue with a drop of 7-7.5% which is lower than the earlier anticipated 10%

Business optimism for Oct-Dec rises 57% over Q3 2020: D&B survey

Business optimism has witnessed an increase in the ongoing quarter supported by various measures taken by the government and the RBI to boost consumption demand during the festive season, says a survey. The fall in active cases of COVID-19 infected persons and the improvement in recovery rate also supported the business sentiment. The Dun & Bradstreet Composite Business Optimism Index stood at 46.2 for October-December 2020, registering an increase of 57.4 per cent as compared to the third quarter. The index is arrived at on the basis of a quarterly survey of business expectations. The latest survey was carried out in September and October and covered 350 chief executive officers and managing directors. The survey however revealed that optimism of respondents in the services sector has remained subdued and lower than the industrial sector across all parameters including sales, new orders, net profits, level of selling price and employees. "The improvement in the optimism level ...

Services activity grows for first time since Feb, PMI hits 54.1 in Oct

As in the manufacturing sector, employment declined for successive months in services sector too.