Services

UK services firms report sharpest rise in costs since late 2022

Firms remain concerned about the economic outlook and inflationary pressures caused by the Iran war

Demand in the bloc’s dominant services industry weakened further last month, declining at the sharpest pace since October 2023.

Euro zone services activity slumps in April on weak demand, PMI shows

[LONDON] Euro zone services activity contracted in April for the first time in almost a year, hit by weakening demand and deteriorating export business as the Middle East war weighed on consumer-facin...

As China has moved up the value-added curve in exports of EVs, robots, drones, solar panels and wind turbines, expansion in knowledge-intensive service exports has followed.

China’s new trade front with the world – services

The country is rapidly moving up the global ranks as an exporter of knowledge-intensive products

China will cultivate more “China service” brands and push production-oriented services toward specialisation and higher positions in the value chain, Xi was reported as saying.

China’s Xi urges demand-driven growth in services industry 

[BEIJING] China’s President Xi Jinping has called for a demand-driven approach coupled with reform and technological empowerment to develop the service industry, the official Xinhua news agency report...

Services sector employment contracted, with the jobs measure dropping to the lowest level since December 2023.

US service sector cools in March; price paid measure highest in 3½ years

It’s an early sign that the prolonged war with Iran was boosting inflation pressures

Consumer services such as retail and catering remain in contraction.

China services gauge slows after boost from new year holiday

[BEIJING] China’s services activity expanded at a weaker pace in March, a private survey showed, pointing to sluggish consumer demand after a lift from a long national holiday the previous month.

The S&P Global final Japan Services Purchasing Managers’ Index (PMI) edged up to 53.8 in February from 53.7 in January, marking the 11th consecutive month of expansion.

Japan’s services activity hits nearly two-year high: PMI

The broader picture for Japan’s economy was also positive

The increase in the services producer price index, which tracks the price companies charge each other for services, followed a 2.6 per cent gain in December.

Japan’s services inflation steady, signals wage-driven price pressure

The Bank of Japan has signalled its readiness to keep hiking borrowing costs if prices continue to rise

The BOJ said a weak yen has an increasing impact on Japan’s inflation not just through higher import costs but through second-round effects such as the pass-through of labour costs.

Japan’s leading indicator of service inflation hits 2.6% in December

Consumer inflation has also exceeded 2 per cent for nearly four years