Growth in India’s dominant services industry picked up less than expected in February despite an easing of COVID-19 restrictions, a private survey showed, while price pressures led firms to shed jobs at the quickest pace since July. Those inflationary effects will likely intensify as the survey was conducted before Russia’s invasion of Ukraine, which is … Read more
India’s manufacturing sector activities moderated in December but output remained in the growth territory, amid slower rise in sales and new orders, even as business sentiment was dampened by concerns surrounding supply-chain disruptions, COVID-19 and inflationary pressures, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) eased … Read more
India’s dominant services industry returned to growth in August, expanding at its fastest pace since the pandemic began, as businesses reopened amid improved vaccination rates, a survey showed on Friday, although firms continued to cut jobs. Despite the impact of the second wave of the COVID-19 pandemic, India’s economic growth reached a record 20.1% in … Read more
India’s services activity contracted — though at a slower pace — for the third consecutive month in July, due to subdued demand conditions amid the coronavirus pandemic and local restrictions, a private survey showed on Wednesday. “July data was somewhat disappointing, with incoming new business and output falling solidly over the month, but there was … Read more
LONDON: Shares in Nomura and Credit Suisse fell further on Wednesday, with a collective $9 billion wiped off their market value so far this week as the banks braced for big losses from the blow-up of US-based hedge fund Archegos Capital. Credit Suisse and Nomura were slower than rivals to cut their exposure to Archegos, … Read more
Growth in India’s dominant services industry continued to lose momentum in December as a resurgence in coronavirus infections weighed on new business and employment, a private survey showed on Wednesday. Asia’s third-largest economy has been gradually recovering from a coronavirus-induced recession but is not expected to return to pre-pandemic levels soon, especially within the service … Read more
The United Arab Emirates‘ non-oil private sector slipped back into contraction in October for the second time in three months, a survey showed on Tuesday, stunting the country’s economic recovery from the coronavirus pandemic. The seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI), which covers manufacturing and services, fell to 49.5 in October from … Read more
The coronavirus’s resurgence is weighing on service providers in Europe and Asia, even as factories continue to report a strengthening recovery from spring’s sharp declines in output. Surveys of purchasing managers in France, Germany and Japan pointed to a decline in activity at businesses that provide services during September, an indication that the global economy … Read more
U.S. factory output continued to grow in August, according to a pair of surveys released Tuesday, but the picture for employment was mixed, a possible sign of lingering uncertainty about the coronavirus pandemic among American manufacturers. Sluggish employment, if sustained, could pose a threat to the recovery just as the economy is starting to pick … Read more
The Indian economy is likely to rebound in the second half of 2020 as the impact of the COVID-19 pandemic recedes, and is projected to grow by 6.7 per cent in the next financial year, IHS Markit said on Thursday. The pandemic resulted in severe disruptions in industrial production and consumption spending in India during … Read more