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New Delhi, India's services sector activity eased in August but growth rates for new orders remain elevated, as services firms indicated the sharpest upturn in new export business which acted as a catalyst for firms to expand their workforces as well as output, a monthly survey said on Tuesday. Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&amp;P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010. For the 25th straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. "Indian services companies achieved a remarkable milestone in August, as they welcomed a series record surge in new export business. Several regions contributed to the upturn, including Asia Pacific, Europe, North America and the Middle East," <keyword id="2835710" type="General" weightage="50" keywordseo="pollyanna-de-lima" source="Orion">Pollyanna De Lima</keyword>, Economics Associate Director at S&amp;P Global Market Intelligence, said. Lima further noted that this spike in international demand supported one of the best sales performances recorded over the past 13 years, and acted as a catalyst for firms to expand their workforces as well as output. "Demand strength also fostered a heightened sense of optimism regarding the outlook, boding well for economic growth prospects," Lima said. On August 10, the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) left its key interest rates unchanged for a third straight meeting but signalled tighter policy if food prices drive inflation higher. The next meeting of the <keyword id="3446352" type="General" weightage="50" keywordseo="rbi-monetary-policy-committee" source="Orion">RBI Monetary Policy Committee</keyword> (MPC) is scheduled for October 4-6. On the prices front, buoyant demand for services meanwhile aided a further upward revision to selling prices. The rate of charge inflation quickened to the joint-fastest in over six years, while input costs rose to a lesser extent. "... Favourable demand trends also led to the joint-fastest increase in prices charged for Indian services in over six years, which may prompt attention from policymakers and potentially delay cuts to the benchmark repo rate," Lima added. On the jobs front, hiring activity across India's service economy continued to expand. The rate of job creation was moderate, but the strongest seen since last November. Going ahead, monitored companies firmly believed that output would remain on an upward growth path over the course of the coming 12 months. Advertising, demand strength, plans to price competitively and a healthy number of client enquiries all boosted optimism in August. Meanwhile, there was a mild slowdown in the growth of private sector activity across India during August. The S&amp;P Global India Composite PMI Output Index -- which measures combined services and manufacturing output -- fell from 61.9 in July to 60.9 in August. Despite the fall, the S&amp;P Global India Composite PMI Output Index was indicative of a sharp rate of expansion that was among the strongest in over 12 years, the survey said. The S&amp;P Global India Services PMI is compiled by S&amp;P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Data collection began in December 2005.

India's services sector activity moderates in August; exports expand at record pace

<ul class="summary-list"><li>The stock market faces pullback of up to 10%, Verdence's CIO told Yahoo Finance.</li><li>Key data prints are hovering in recession territory, Megan Horneman said.</li></ul>Investors are too quick to embrace soft-landing projections and are ignoring economic points of distress, Verdence's Megan Horneman said.This over-enthusiasm could cost the market heavily, pushing stocks toward a 7% to 10% drop, the chief investment officer said."I think investors got a little ahead of themselves as far as the what strength there is in the economy," she told <a target="_blank" href="https://www.youtube.com/watch?v=MX0i_FfJ0zs">Yahoo Finance</a>. "If you look at every other economic indicator, aside from the actual GDP number, all of these things are looking like they're in a recession territory."Horneman's cited examples included the Leading Economic Indicators index and manufacturing. This week's service index is also worth monitoring, she said.To her point, the LEI gauge has persistently signaled headwinds ahead. Between February and August, it dropped 2.3%. According to the <a target="_blank" href="https://www.conference-board.org/topics/us-leading-indicators/press/us-lei-sept-2024#:~:text=August's%20decline%20in%20the%20US,is%20likely%20imminent%20or%20underway.">Conference Board</a>, the decline in the six-month growth rate was enough to trigger a recession in August.Meanwhile, manufacturing can't seem to break out of its downturn. This week, September's Manufacturing PMI print remained stuck at 47.2 — any reading below 50 signals a contraction. This has been the case for six consecutive months and for <a target="_blank" href="https://www.prnewswire.com/news-releases/manufacturing-pmi-at-47-2-september-2024-manufacturing-ism-report-on-business-302263093.html">22 out of the past 23 months</a>."Demand remains subdued, as companies showed an unwillingness to invest in capital and inventory due to federal monetary policy — which the US Federal Reserve addressed by the time of this report — and election uncertainty," Tim Fiore, chair of the ISM manufacturing business survey committee, said in a <a target="_blank" href="https://www.prnewswire.com/news-releases/manufacturing-pmi-at-47-2-september-2024-manufacturing-ism-report-on-business-302263093.html">report</a>.Still, these data prints have taken a backseat to labor data, which holds the spotlight on Wall Street. Since rising job market deterioration played a key role in the Federal Reserve's decision to cut interest rates, investors are on the watch for any further weakness.The market is keen to see strength in September's jobs report, scheduled for release on Friday.Investors should prepare for a sell-off if unemployment jumps above 4.3% and non-farm payrolls slip under 100,000, according to <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/best-case-scenario-for-stock-market-outlook-fourth-quarter-ms-2024-9?_gl=1*jge94d*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzg5MjE0OC42ODAuMC4xNzI3ODkyMTUzLjU1LjAuMA..">Morgan Stanley</a>.Horneman also noted waning consumer sentiment to drive home her point. With credit card debt on the rise, she questioned how spending is supposed to keep up."If you look at some surveys, most Americans actually think are already in a recession. That's how poorly they feel," she said. "So I just don't see the strength in the consumer that's going to be able to last much longer."According to a survey from July, <a target="_blank" class="" href="https://www.businessinsider.com/us-recession-outlook-inflation-costs-consumer-spending-affirm-soft-landing-2024-7">three in five Americans</a> believe the US is in a recession. Top reasons included inflation and rising costs of living.

Stocks face a 10% drop with key economic data mired in recession territory, investment chief says

<ul><li>The overall upturn in input costs was sharp and little-changed from October, while output charges rose at the quickest rate in over five years.</li><li>The seasonally adjusted S&amp;P Global <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> Services <keyword id="104215" type="General" weightage="80" keywordseo="pmi" source="Orion">PMI</keyword> Business Activity Index rose from 55.1 in October to 56.4 in November.</li><li>Survey participants linked the latest expansion to demand strength, successful marketing and a sustained upturn in sales.</li></ul>India's services sector output growth touched a three-month high in November as business inflows rose markedly amid accommodative demand conditions, a monthly survey said on Monday. The seasonally adjusted S&amp;P Global India Services PMI Business Activity Index rose from 55.1 in October to 56.4 in November, indicating a sharp increase in output that was the quickest in three months even amid higher operating expenses. Survey participants linked the latest expansion to demand strength, successful marketing and a sustained upturn in sales. For the 16th straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. "Indian service providers continued to reap the benefits of strong domestic demand, with PMI data for the penultimate month of 2022 showing faster increase in new business and output," said <keyword id="2835710" type="General" weightage="50" keywordseo="pollyanna-de-lima" source="Orion">Pollyanna De Lima</keyword>, Economics Associate Director at <keyword id="3435727" type="General" weightage="20" keywordseo="sp-global-market-intelligence" source="Orion">S&amp;P Global Market Intelligence</keyword>. On the Jobs front, sustained expansions in new work intakes and demand buoyancy continued to promote job creation in the service economy. "Employment rose at a solid pace that was among the quickest in over three years," the survey said. On the prices front, services companies across India reported higher operating expenses. In addition to greater transportation costs, firms reported higher prices for energy, food, packaging, paper, plastic and electrical products. "Whilst on the whole the latest results are encouraging, the trend for inflation is somewhat concerning. Strong demand for services again boosted firms' pricing power, with more companies transferring cost increase to their customers," Lima said. The overall upturn in input costs was sharp and little-changed from October, while output charges rose at the quickest rate in over five years, Lima said. "Evidence of stubborn inflation may prompt further hikes to the policy rate at a time when global economic challenges could negatively impact India's growth," Lima added. The <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> will come out with its next bi-monthly policy review on December 7 at the end of a three-day meeting of the <keyword id="6375120" type="General" weightage="50" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword> (MPC) beginning Monday. According to experts, the <keyword id="50847" type="General" weightage="50" keywordseo="reserve-bank" source="Orion">Reserve Bank</keyword> may opt for a lower rate increase of 25-35 basis points in lending rates amid retail inflation showing signs of moderation and the need to push growth. Meanwhile, the S&amp;P Global India Composite PMI Output Index -- which measures combined services and manufacturing output -- rose from 55.5 in October to 56.7 in November. "Private sector activity in India increased for the 16th consecutive month in November, and at the fastest pace since August," the survey said. The S&amp;P Global India Services PMI is compiled by S&amp;P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Data collection began in December 2005. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/women-unemployed-rural-poor-lag-due-to-digital-divide-says-oxfam-india-report/articleshow/96000462.cms">Women, unemployed, rural poor lag due to digital divide, says Oxfam India Report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/gadgets/news/upcoming-new-games-in-2023/articleshow/95999256.cms">Top upcoming games in 2023: Here’s what PC, PlayStation, and Xbox users should expect</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kama-holdings-valued-over-8000-crore-has-only-three-employees/slidelist/95998472.cms">Kama Holdings, valued over ₹8,000 crore, has only three employees</a>

India's services sector output growth hits 3-month high in Nov on strong demand

<ul class="summary-list"><li><keyword id="3534353" type="PERSON" weightage="60" keywordseo="ihs-markit">IHS Markit</keyword>'s US Composite Output Index sank to 54.4 in September from 54.6, signaling the nation's economic recovery continued into the fall, albeit at a slowing pace.</li><li>The research firm's services purchasing managers' index weakened to 54.6 from 55, according to a Wednesday <a href="https://www.markiteconomics.com/Public/Home/PressRelease/50e5588ccad143b7a3318c40926a45b9">report</a>. Its manufacturing gauge edged higher to 53.5 from 53.1.</li><li>Still-heightened COVID infection rates and uncertainty around the US presidential election are the biggest factors skewing economic risks to the downside, Chris Williamson, chief business economist at IHS <keyword id="156891" type="COMPANY" weightage="60" keywordseo="markit">Markit</keyword>, said in a statement.</li><li>"The question now turns to whether the economy's strong performance can be sustained into the fourth quarter" after outsized third-quarter gains, he added.</li></ul>The US service and manufacturing industries recovered slower in September from the previous month as the third-quarter bump gave way to new obstacles, IHS Markit said Wednesday.The research firm's Composite Output Index fell to 54.4 from 54.6 this month, its lowest point in two months, according to a Wednesday morning <a href="https://www.markiteconomics.com/Public/Home/PressRelease/50e5588ccad143b7a3318c40926a45b9">report</a>. IHS's purchasing managers' index for US services businesses declined to 54.6 from 55. The PMI for US manufacturing firms edged higher to 53.5 from 53.1.Readings above 50 indicate growth, while those below the threshold signal industry contraction. IHS's gauges posted sharp declines and subsequent rebounds earlier in the pandemic as lockdowns halted activity.While September's services reading points to continued growth, its retreat from August levels suggests the pace of the economic bounce-back is weakening. Services make up roughly 70% of the US economy.Read more: <a href="https://www.businessinsider.com/investing-advice-stocks-to-buy-amid-sell-off-morgan-stanley-2020-9">Buy these 15 stocks right now before they rally higher, says the Morgan Stanley equity chief who nailed his call for a short-term market meltdown</a>Revived COVID-19 fears and the upcoming US presidential election are the two biggest roadblocks through the end of the year, Chris Williamson, chief business economist at IHS Markit, said in a statement. Infection rates remain at elevated levels as reopenings steadily continue, threatening another rebound in case counts and potential lockdowns. Uncertainties surrounding the election's outcome are also weighing on business optimism."The question now turns to whether the economy's strong performance can be sustained into the fourth quarter," Williamson said, adding risks "seem tilted to the downside."Businesses remained confident toward the economy's path over the next year, but the overall level of optimism fell to a four-month low, according to IHS. New business growth for US services accelerated to an 18-month high. Employment in the industry increased, though at a slower pace than in August.IHS's manufacturing gauge was mostly lifted by a faster increase in production and improved new orders. The industry's expansion in new export orders slowed to marginal growth. Employment at manufacturers also grew at a slower pace compared to last month.Overall, the PMIs point to the third quarter's outsized gains shifting to mixed results heading into the fall, Daniel Silver, economic researcher at <a href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a>, said in a note. The move "looks broadly consistent with many <keyword id="35023" type="PERSON" weightage="60" keywordseo="economic-indicators">economic indicators</keyword> that point to a loss of momentum lately," he added. While retail spending and housing market gauges have almost fully recovered from the virus' hit, weekly jobless claims and reopening gauges show some damage lingering.Read more: <a href="https://www.businessinsider.com/stock-market-investors-face-larger-risks-after-elections-scaramucci-warns-2020-9">Anthony Scaramucci told us his contrarian views on the risks investors face after the elections regardless of who wins — and shared how his $7.5 billion SkyBridge Capital is navigating the market's volatility</a>

US economic recovery weakens with election and pandemic presenting new risks, IHS Markit says

<ul><li>For the fourteenth straight month, the services sector witnessed an expansion in output.</li><li>The upturn was reportedly restricted by price pressures, an increasingly competitive environment and unfavourable public policies. </li><li>Employment rose at a slower rate than in August, the survey said.</li></ul> The <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>n services sector activity fell to a six-month low in September, as new business inflows rose at the slowest rates since March, amid inflationary pressures and competitive conditions, a monthly survey said. The seasonally adjusted S&amp;P Global India Services <keyword id="104215" type="General" weightage="100" keywordseo="pmi" source="Orion">PMI</keyword> Business Activity Index fell to 54.3 in September, from 57.2 in August, highlighting the weakest rate of expansion since March. For the fourteenth straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction. "The Indian service sector has overcome many adversities in recent months, with the latest PMI data continuing to show a strong performance despite some loss of growth momentum in September," said <keyword id="2835710" type="General" weightage="50" keywordseo="pollyanna-de-lima" source="Orion">Pollyanna De Lima</keyword>, Economics Associate Director at S&amp;P Global Market Intelligence. The upturn was reportedly restricted by price pressures, an increasingly competitive environment and unfavourable public policies, the survey said. <keyword id="15735" type="General" weightage="50" keywordseo="lima" source="Orion">Lima</keyword> further noted that the steep depreciation of the rupee seen towards the end of the month due to interest rate hikes in the US present additional challenges to the Indian economy. "Currency instability poses renewed inflation worries as imported items become more costly, and undoubtedly means that the <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> will continue hiking interest rates to protect the rupee and contain price pressures," Lima said. On September 30, the monetary policy committee (<keyword id="6369693" type="General" weightage="50" keywordseo="mpc" source="Orion">MPC</keyword>) of the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) raised the key lending rate or the repo rate to 5.90 per cent - the highest since April 2019. The MPC also decided to remain focused on the withdrawal of the accommodative policy stance to ensure that inflation remains within the target going forward, while supporting growth, RBI Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> said. According to Lima, an upturn in inflation could damage consumer spending, dampen business confidence and test the resilience of the Indian service sector in the coming months but, at least for September, service providers were strongly upbeat towards growth prospects. The survey further noted that weak external demand weighed on overall sales, with international orders declining further in September. Monthly contractions have been recorded in each month since the onset of COVID-19. The data highlighted a continued revival in business confidence, with sentiment at its highest level in over seven-and-a-half years. Service providers signalled a further increase in their operating expenses during September, owing to higher energy, food, labour and material costs. On the employment front, though capacity pressures moderated in September, efforts to clear pending workloads and ongoing expansions in sales supported another round of job creation. However, employment rose at a slower rate than in August, the survey said. Meanwhile, the S&amp;P Global India Composite PMI Output Index -- which measures combined services and manufacturing output -- slipped from 58.2 in August to 55.1 in September, pointing to the weakest rate of expansion since March. Private sector sales rose at the weakest pace in six months, amid softer increases in the manufacturing and services economies. The S&amp;P Global India Services PMI® is compiled by S&amp;P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Data collection began in December 2005. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/indians-are-taking-more-personal-loans-buying-consumer-goods-on-credit-says-report/articleshow/94674739.cms">Indians are taking more personal loans, buying consumer goods on credit, says report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/whatapp-business-gives-a-new-lease-of-life-to-solopreneurs-across-india-and-bharat/articleshow/94673370.cms">WhatApp Business gives a new lease of life to solopreneurs across India and Bharat</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/with-303-vulnerabilities-google-chrome-is-the-riskiest-browser-of-2022-atlas-vpn/articleshow/94673834.cms">With 303 vulnerabilities, Google Chrome is the riskiest browser of 2022: Atlas VPN</a>

India's service sector activity falls to 6-month low in Sep amid inflation, competition: PMI

<ul class="summary-list"><li>The US services industry slowed its pace of expansion in August as stimulus programs expired and the coronavirus pandemic continued to weigh on spending activity.</li><li>The <a href="https://www.prnewswire.com/news-releases/services-pmi-at-56-9-august-2020-services-ism-report-on-business-301123494.html">Institute for Supply Management's</a> gauge of the industry dropped to 56.9 last month from 58.1, notching its first decline in four months. A reading above 50 indicates growth, while one below the level signals contraction.</li><li>Though the firm's employment index remains in contractionary territory, it improved 5.8 points to 47.9.</li><li>The virus' lasting damage will "constrain the recovery of service activity to a low growth mode," Oxford Economics said in a Thursday note.</li></ul>The US <keyword id="60380" type="PERSON" weightage="60" keywordseo="Service-industry">service industry</keyword> grew at a slower rate in August as government stimulus dried up and consumer spending moderated.The <keyword id="105460" type="ORGANIZATION" weightage="60" keywordseo="Institute-for-Supply-Management">Institute for Supply Management</keyword>'s gauge of the industry fell to 56.9 last month from 58.1, according to a Thursday <a href="https://www.prnewswire.com/news-releases/services-pmi-at-56-9-august-2020-services-ism-report-on-business-301123494.html">release</a>. The reading was the index's first decline in four months and stood in-line with economist estimates.The decline was largely driven by a drop in new orders. <keyword id="90179" type="ORGANIZATION" weightage="60" keywordseo="ISM">ISM</keyword>'s New Orders Index sank to 56.8 in August from 67.7. The firm's gauge of production fell 4.8 points through the month to 62.4.Still, last month's data show services continuing to recover from their sharp second-quarter contraction. Any reading above 50 represents industry expansion, while one below the level indicates contraction.Read more: <a href="https://www.businessinsider.com/stocks-to-buy-commercial-real-estate-picks-future-of-office-2020-9">A commercial real estate-investing expert explains why the future of offices isn't as bleak as you think — and shares 3 property stocks set for gains no matter the path the COVID-19 recovery</a>Employment crept higher to expansionary territory in August, gaining 5.8 points to 47.9. ISM's employment and inventories gauges are the only ones still indicating contraction.Of the 18 service subsectors tracked by ISM, 15 reported growth in August. Only mining, information, and a miscellaneous group of "other services" reported contraction.The firm's report doesn't reveal the industry's performance relative to a norm, and instead tracks whether business activity expanded, shrank, or held steady. Still, recent periods of growth haven't retraced losses seen earlier in the year and activity remains well off pre-pandemic levels."Looking ahead, we expect the pandemic to continue to constrain the recovery of service activity to a low growth mode," Kathy Bostjancic, chief US financial economist at Oxford Economics, said.The Thursday report follows ISM's <a href="https://www.businessinsider.com/ism-manufacturing-pmi-rises-fastest-rate-years-industry-economic-recovery-2020-9">latest reading of the US manufacturing industry</a>. The gauge gained to 56 in August from 54.2, signaling the industry's fastest rate of expansion since late 2018. Last month marked the first full month of factory operations since major supply chains restarted and changes were made to safely bring employees back to work, ISM said. Now read more <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> coverage from Markets Insider and Business Insider:<a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-index-reaction-tech-slump-jobless-claims-2020-9-1029560367">US stock rally halts as investors shun tech giants</a><a href="https://www.businessinsider.com/quantumscape-spac-ipo-market-ev-bill-gates-backed-battery-company-2020-9">Bill Gates-sponsored battery producer QuantumScape to join 'blank-check' IPO frenzy</a><a href="https://www.businessinsider.com/stock-market-trading-rules-blueprint-from-market-legend-marty-schwartz-2020-9">'I had run $5,000 up to $140,000 in just 2 years': Here are the 7 trading rules stock-market wizard Marty Schwartz leverages to help ensure success</a>

US service-sector recovery slows in August as pandemic fears weigh on spending

<ul class="summary-list"><li><keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword>'s <keyword id="6362048" type="UNKNOWN" weightage="60" keywordseo="manufacturing" source="Orion">manufacturing</keyword> activity shrank in September, as the power crisis hit factories, official data showed Thursday.</li><li>The official <keyword id="12211874" type="UNKNOWN" weightage="60" keywordseo="manufacturing-pmi" source="Orion">manufacturing PMI</keyword> fell to 49.6 from 50.1, dropping into contraction for the first time since the start of the pandemic.</li><li>Goldman Sachs estimates nearly half of China's industrial activity has been affected by power cutbacks.</li></ul>China's manufacturing activity unexpectedly declined in September due to controls on <keyword id="11917808" type="UNKNOWN" weightage="60" keywordseo="electricity" source="Orion">electricity</keyword> consumption and inflationary pressures contributing to higher input prices, <a href="http://www.stats.gov.cn/tjsj/zxfb/202109/t20210930_1822646.html">data from the country's official statistics agency showed</a> on Thursday.The official manufacturing Purchasing Managers' Index in September came in at 49.6, slipping from 50.1 in August. That missed the median forecast of analysts polled by Bloomberg, who predicted a decline to 50. This indicates that the manufacturing sector fell into contraction for the first time since February 2020. During economic downturns, readings as low as 45 are ordinarily expected, while during expansion, PMIs tend to linger in the mid-50s range.Zhao Qinghe, a senior statistician at the statistics bureau, attributed the decline to factors "such as the low prosperity level of high energy-consuming industries."China initially bounced back quickly from the impact of lockdowns imposed to curb the pandemic last year, making it the <a href="https://markets.businessinsider.com/news/stocks/china-gdp-recovery-fourth-quarter-major-economy-grow-in-2020-2021-1">only major economy to recover</a> in 2020. But it has since lost momentum due to headwinds that include rising costs of raw materials that have hit production, and regulatory pressure to meet environmental targets for energy consumption.Goldman Sachs recently <a href="https://markets.businessinsider.com/news/commodities/goldman-sachs-china-gdp-forecast-2021-energy-crunch-growth-shock-2021-9">cut its 2021 GDP growth forecast</a> for China to 7.8% from 8.2%, saying climate-focused energy constraints are to blame. The investment firm estimates 44% of industrial activity in the world's second-largest <keyword id="11893570" type="UNKNOWN" weightage="60" keywordseo="economy" source="Orion">economy</keyword> has been affected by the cutbacks.A separate private survey, the <a href="https://www.markiteconomics.com/Public/Home/PressRelease/80b2296bb1f6435a917c1f2949de4e56">Caixin PMI</a>, which focuses on small, private, and export-oriented firms, showed manufacturing activity held steady in September. The index rose from 49.2 in August to 50, above Bloomberg estimates for a reading of 49.5.Meanwhile, the official services PMI index and composite PMI output index were stronger in comparison, coming in at 53.2 and 51.7, respectively. That was higher than last month by 5.7 and 2.8 percentage points respectively, indicating a return to expansion. Still, the forward-looking new orders component came in below 50 for a fourth consecutive month, reflecting a drop in demand.The PMI data is "reflective of the impact of the recent energy crunch on production," said Robert Carnell, ING's regional head of research for Asia Pacific. He predicted there could be some easing of the energy supply constraints in the months ahead, but mainly to keep supplies flowing to the household sector."So the crunch on the industry may remain in place for some time," he said.With China on holiday for a week from Friday, the manufacturing PMI is unlikely to rebound much in October, according to Jeffrey Halley, a senior market analyst at OANDA.The <a href="https://markets.businessinsider.com/index/shanghai_composite">Shanghai Composite</a> closed 0.9% higher on Thursday.<a href="https://markets.businessinsider.com/index/hang_seng"></a>Read More: <a href="https://www.businessinsider.com/top-hedge-fund-managers-stocks-holdings-portfolios-risk-adjusted-tipranks-2021-9">The 10 hedge-fund managers with the best risk-adjusted portfolio returns over 3 years and the largest stocks they hold, according to a company that ranks them</a>

China's manufacturing activity shrinks in September, running at its slowest pace since the start of the pandemic due to the country's energy crunch

<ul class="summary-list"><li>Global stocks rose on Tuesday as investors chose to focus on the slowing rate of <keyword id="11893194" type="UNKNOWN" weightage="60" keywordseo="coronavirus" source="Orion">coronavirus</keyword> cases worldwide.</li><li>The key highlight for <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> this week is the Labor Department's August jobs report on Friday.</li><li><keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword> reduced online video game time for people under 18 to three hours each week.</li></ul>Global stocks rose on Tuesday as investors chose to focus on the growth rate in new coronavirus cases continuing to slow around the world, and brushed aside weak business data from China.Futures on the <a href="https://markets.businessinsider.com/index/dow_jones">Dow Jones</a>, <a href="https://markets.businessinsider.com/index/s&amp;p_500_500">S&amp;P 500</a>, and <a href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq</a> rose between 0.1% to 0.3% as of 4:30 a.m. ET, suggesting a higher start to trading later on. The S&amp;P 500 hit fresh record highs on Monday.Part of the market optimism has stemmed from Johns Hopkins University data that shows the global growth rate in cases has slowed from 9.4% to just 0.01% over the past five weeks, Deutsche Bank strategists said. The US has seen its <a href="https://coronavirus.jhu.edu/data/new-cases">slowest growth in cases</a> since June, they added, to just under 8% from over 50% in a week last month.The key highlight for markets this week is new data on the US labor market due Friday. Deutsche's US economists expect the pace of hiring to slow after a <a href="https://www.businessinsider.com/jobs-report-july-payrolls-943000-unemployment-rate-labor-market-recovery-2021-8">strong July report</a>.But an expected 700,000 increase in nonfarm payrolls should be more than sufficient to keep the Federal Reserve on track to announce tapering at its November meeting, Deutsche said. Additionally, they expect the US unemployment rate to fall to a post-pandemic low of 5.2%, from 5.4%.Elsewhere in Asia, investor sentiment was somewhat dampened by weaker-than-expected Chinese data. The country's <a href="https://www.reuters.com/world/china/chinas-factory-activity-expands-slower-pace-august-official-pmi-2021-08-31/">Purchasing Managers Index</a> fell in August due to an imposition of lockdowns to curb the domestic breakout of <keyword id="8785701" type="UNKNOWN" weightage="60" keywordseo="covid-19-cases" source="Orion">COVID-19 cases</keyword>, slowing exports, high raw-material prices, and regulatory changes.As part of its tech crackdown, China announced on Monday online gamers under the age of 18 will be <a href="https://www.businessinsider.com/china-cuts-video-game-time-for-kids-3-hours-weekly-2021-8">allowed to play for only an hour</a> on Fridays, weekends, and holidays between 8 p.m. to 9 p.m..Shares in Chinese game producers fell after the reduction in permitted play-time. <a href="https://markets.businessinsider.com/stocks/ntes-stock">NetEase</a> fell about 3.3% in Hong Kong, while rival <a href="https://markets.businessinsider.com/stocks/tcehy-stock">Tencent</a> reversed earlier losses by the close. "With a seemingly new intervention by the China government in a new sector each day, it is clear that regulatory risk is not going away anytime soon," Jeffrey Halley, senior market analyst at OANDA, said.The <a href="https://markets.businessinsider.com/index/shanghai_composite">Shanghai Composite</a> rose 0.4%, Tokyo's <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei</a> rose 1%, and Hong Kong's <a href="https://markets.businessinsider.com/index/hang_seng">Hang Seng</a> rose 0.8%.In Europe, investors are focused on inflationary pressures in the region. <a href="https://www.reuters.com/world/europe/french-inflation-stronger-than-expected-august-3-year-high-2021-08-31/">Data from France</a> showed inflation rose more than expected in August, at the fastest rate in nearly three years.Separately, the EU has recommended <a href="https://www.insider.com/eu-looks-set-reimpose-travel-restrictions-us-visitors-2021-8">removing the US</a> from its safe-travel list, while the US issued a do-not-travel advisory for many European countries. This hurt travel stocks. British Airways parent IAG fell over 3%, <a href="https://markets.businessinsider.com/stocks/afraf-stock">Air France</a> lost 1.2%, and <a href="https://markets.businessinsider.com/stocks/dlakf-stock">Lufthansa</a> dropped 1.3%.<a href="https://markets.businessinsider.com/index/ftse_100">London's FTSE 100</a> fell 0.1%, the <a href="https://markets.businessinsider.com/index/euro_stoxx_50">Euro Stoxx 50</a> rose 0.3%, and the benchmark French index <a href="https://markets.businessinsider.com/index/cac_40">CAC 40</a> rose 0.06%.Oil traded slightly lower on Tuesday, but Commerzbank analysts said prices are unaffected by the prospect of reduced crude demand from US refineries in the wake of <a href="https://www.insider.com/hurricane-ida-evacuees-wait-in-limbo-to-return-home-and-survey-damage">Hurricane Ida</a> and the expansion of OPEC+ production.However, UBS economists said oil markets are likely to become more vulnerable to such disruptions, as demand outstrips supply in a reopening global economy.<a href="https://markets.businessinsider.com/commodities/oil-price?type=brent">Brent crude futures</a> fell 0.9% to $71.56 a barrel and <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate</a> fell 1.1% to $68.42 a barrel.Gold mostly defended gains made on the back of <a href="https://www.businessinsider.com/jerome-powell-fed-jackson-hole-speech-uneventful-best-outcome-tapering-2021-8">Jerome Powell's Jackson Hole speech</a> last week, edging 0.3% higher to $1,818 an ounce.Read More: <a href="https://www.businessinsider.com/stock-picks-to-buy-now-beat-the-sp500-morgan-stanley-2021-8" target="_blank" rel="noopener noreferrer">Morgan Stanley just revamped its 'Vintage Values' stock list that's smashed the S&amp;P 500 over the past year. Here are 15 high-upside stocks it says to buy now.</a>

Global stocks edge higher as investors eye a steady drop in COVID-19 cases worldwide and ignore China's economic slowdown

<ul><li>Manufacturing activity in China rose in the month of September. </li><li>The official <keyword id="715896" type="PERSON" weightage="60" keywordseo="China-manufacturing">China Manufacturing</keyword> Purchasing Managers Index (<keyword id="104215" type="ORGANIZATION" weightage="60" keywordseo="PMI">PMI</keyword>) rose to 51.5 in September, from 51 in August. </li><li>A Reuters poll of economists showed expectations for a reading of 51.2</li><li>Manufacturing activity remained strong ahead of the week-long Golden Week national holiday that starts on Thursday. </li><li>The Caixin/Markit PMI, a private survey, showed manufacturing held roughly at the same pace in September, with a reading of 53 versus 53.1 in August. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>China's huge manufacturing sector continued to recover in September, affirming the world's second largest economy is recovering from the pandemic, according to data on Wednesday. The official China Manufacturing Purchasing Managers Index (PMI) rose from 51 in August to 51.5 in September, beating analyst estimates. Analysts polled by Reuters were expecting a reading of 51.2. A PMI reading of 50 is the separation point between contraction and expansion.Read More: <a href="https://www.businessinsider.com/investment-strategy-stock-market-sectors-to-buy-blue-wave-election-2020-9" target="_blank" rel="noopener noreferrer">UBS says the chances of a Democratic sweep have risen to 50% as Trump and Biden square off in their first debate. These 9 assets will help investors profit if a blue wave comes crashing in.</a>PMI survey data is widely used to track trends in economic activity across the world's biggest economies.Manufacturing remained high ahead of the week-long Gold Week national holiday, which starts this Thursday in China. The data is the latest sign that the world's second largest economy, which was first hit by coronavirus through an outbreak in the city of Wuhan in January, is seeing a steady increase in activity. The Caixin/Markit PMI, a private manufacturing activity also released on Wednesday, tipped slightly lower but still stood well above expansion territory, with a reading of 53 in September versus 53.1 in August.Read More: <a href="https://www.businessinsider.com/investing-advice-best-hedges-defensive-assets-portfolio-shifts-john-normand-2020-9" target="_blank" rel="noopener noreferrer">JPMORGAN: The best defenses against stock-market crashes are delivering their weakest results in a decade. Here are 3 ways to adjust your portfolio for this predicament</a>Dr. Wang Zhe, senior economist at Caixin Insight Group said: "The Caixin China General Manufacturing PMI came in at 53 in September, dipping from 53.1 the previous month. Before August, the last time the index climbed above 53 was January 2011. That indicates the post-coronavirus manufacturing recovery has stayed strong, managing to even accelerate over the past two months."IHS Markit said new businesses expanded at the strongest rate since January 2011, aided by a solid rebound in export sales.

China's manufacturing activity surges in September, affirming its path to economic recovery

<ul><li>Business activity in the <keyword id="6490096" type="UNKNOWN" weightage="60" keywordseo="Eurozone">eurozone</keyword> avoided stagnation in September, as German factories expanded activity to meet export demand, despite a resurgence in cases of COVID-19.</li><li>French business activity fell to a four-month-low as the country struggled to contain an outbreak of new infections in recent weeks.</li><li>The <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> also lost momentum in the last month, even before new measures were imposed by the government on Tuesday.</li><li>"August was likely a relatively good month for the UK recovery, helped by policy initiatives, such as the 'Eat Out to Help Out' scheme, but today's September <keyword id="104215" type="ORGANIZATION" weightage="60" keywordseo="PMI">PMI</keyword> data is consistent with slower economic growth once the scheme ended," a senior economist said of Britain's slowdown.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Business activity in the eurozone slowed in September, along with a marked increase in cases of COVID-19, but <keyword id="87" type="COUNTRY" weightage="60" keywordseo="Germany">Germany</keyword>'s private sector continued to recover as foreign demand provided a boost to manufacturing. The eurozone — which is made up of 19 countries — saw economic recovery stall alongside rising <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> infections and as ongoing social-distancing measures curbed demand, especially for consumer-facing services.Data provider <keyword id="3534353" type="PERSON" weightage="60" keywordseo="ihs-markit">IHS Markit</keyword> said its Purchasing Managers Index (PMI) for <a href="https://www.markiteconomics.com/Public/Home/PressRelease/99f2c589c7b24779ad366def3ba979d8">composite output in the eurozone</a> fell to 50.1 in September, from 51.9 last month, marginally offset by faster growth in Germany.The PMI is a common gauge to measure business performance and economic direction of trends in an <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword>. A reading of 50 divides growth from contraction.During economic downturns, readings as low as 45 are generally considered poor, while during expansion PMIs tend to linger in the mid-50s range. During the worst of the crisis, some European PMIs fell to as low as 10.Read More: <a href="https://www.businessinsider.com/investing-advice-stocks-to-buy-amid-sell-off-morgan-stanley-2020-9">Morgan Stanley's US equities chief nailed his call for a short-term market meltdown. He now lays out the evidence that it may not end soon — and shares 15 stocks to buy ahead of the rebound.</a><div type="image" title="Screenshot 2020 09 23 at 12.39.28" height="768" width="1140" msid="78277997" hostid="261"></div>Read More: <a href="https://www.businessinsider.com/eps-revisions-peak-jp-morgan-recommends-investing-in-this-stock-2020-9">Wondering whether to go long on growth or value stocks? JP Morgan's take on EPS estimates could help answer the question.</a><a href="https://www.markiteconomics.com/Public/Home/PressRelease/a08c62712af34a12ae6f74d154b4aa80">Germany's manufacturing PMI</a> jumped to a two-year-high of 62.2, up from 57.7 last month, boosted by sharply rising levels in export demand.French business activity fell under the 50-point threshold that defines the extent of economic contraction. Composite PMI for France fell to a four-month-low of 48.5 from 51.6, as the country struggled to contain surging new COVID-19 cases that have spiralled higher to record levels in recent weeks. "The rise in case numbers has been accompanied by fresh restrictions, but has also caused hesitancy among businesses due to fears of a second round of temporary business closures," Eliot Kerr, an IHS Markit economist, said in a statement. The UK also lost momentum in September, even before <a href="https://www.businessinsider.com/coronavirus-boris-johnson-government-ditches-return-to-work-push-2020-9">new measures to contain the virus</a> were imposed on Tuesday. Flash readings for the UK's composite PMI fell to a three-month-low of 55.7, down from a more robust 59.1 in August, when government measures helped prop up the economy's initial slump."August was likely a relatively good month for the UK recovery, helped by policy initiatives, such as the 'Eat Out to Help Out' scheme, but today's September PMI data is consistent with slower economic growth once the scheme ended," said Melanie Baker, a senior economist at Royal London Asset Management.Chancellor Rishi Sunak providing continued support for workers when the furlough scheme ends would be "very welcome but any increased social distancing is likely to be a further short-term drag on growth moving into October," Baker said. Read More: <a href="https://www.businessinsider.com/stock-market-sell-off-bearish-signal-warning-fund-manager-gayed-2020-9">A fund manager who's returned 49% to investors this year with incredible market timing says the weakness in stocks is going to get worse</a>

You Searched For "august pmi data" and got 10 results

India's services sector activity moderates in August; exports expand at record pace

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China's manufacturing activity shrinks in September, running at its slowest pace since the start of the pandemic due to the country's energy crunch

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Global stocks edge higher as investors eye a steady drop in COVID-19 cases worldwide and ignore China's economic slowdown

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China's manufacturing activity surges in September, affirming its path to economic recovery

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