Topics

Posted 9/5/2023, 8:35:00 AM

UK PMI survey shows sharpest business slowdown in 7 months

Business activity in Britain's services sector declined in August, the first drop since January, due to higher interest rates dampening consumer and corporate demand, although the decrease was less severe than initially estimated.

reuters.com

Relevant topic timeline:

8/22/2023

UK factory output tumbles to lowest level in nearly three years

UK factory output has fallen sharply to its lowest level in nearly three years, indicating that Bank of England interest rate increases are slowing the economy, according to the latest manufacturing snapshot from the CBI.

8/23/2023

Germany August flash manufacturing PMI 39.1 vs 38.7 expected

German business activity, particularly in the services sector, experienced its sharpest decline since May 2020, leading to concerns about the country's outlook for the remainder of the year and potential stagflation, as both manufacturing and services sectors are contracting.

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Slide in euro zone service sector sharpens ECB's rates dilemma

Euro zone business activity declined more than expected in August, particularly in Germany, while some inflationary pressures returned, posing a challenge for the European Central Bank's efforts to control inflation without causing a recession.

9/5/2023

Euro zone August downturn deeper than was thought

The decline in euro zone business activity accelerated faster than expected last month, with the services industry falling into contraction, raising concerns of a possible recession.

9/5/2023

GLOBAL ECONOMY Global business activity showed signs of slowdown in August -PMIs

Global business activity slowed further last month as services firms struggled with weak demand, potentially leading to a recession in the euro zone and a decline in the UK's private sector activity.

9/5/2023

China's services activity falls in August to its lowest level in eight months

China's services sector experienced a slowdown in business activity, resulting in the lowest level in eight months, as weaker foreign demand and sluggish overseas orders impacted consumption, despite economic stimulus efforts.

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U.S. factory orders plunge in July after four straight gains

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9/5/2023

Column: Prolonged US manufacturing slowdown barely dents energy use

U.S. manufacturers reported a decline in business activity for the 10th consecutive month in August, but the declines are becoming less widespread, suggesting that the trough in the cycle may be approaching.

9/5/2023

Lebanon private sector activity falls to 7-month low as output and new orders decline

Lebanon's private sector experiences a decline in business conditions in August, with the purchasing managers' index falling to a seven-month low, as output and new orders decrease amid the country's ongoing economic crisis.

9/20/2023

UK Inflation Falls to Lowest in Over a Year Thanks to Slowing Food Prices

Inflation in the UK fell to 6.7% in August, the lowest level in a year-and-a-half, driven by slower food price increases and a drop in hotel and air fare costs, although fuel prices rose; economists had expected the figure to increase due to rising fuel prices.

9/21/2023

Leading Economic Indicator Declines for 17th Month, Signaling Potential Recession Risk Despite Ongoing Growth

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Topics

Posted 9/5/2023, 8:35:00 AM

UK PMI survey shows sharpest business slowdown in 7 months

reuters.com

Relevant topic timeline:

8/22/2023

UK factory output tumbles to lowest level in nearly three years

8/23/2023

Germany August flash manufacturing PMI 39.1 vs 38.7 expected

8/23/2023

Slide in euro zone service sector sharpens ECB's rates dilemma

9/5/2023

Euro zone August downturn deeper than was thought

The decline in euro zone business activity accelerated faster than expected last month, with the services industry falling into contraction, raising concerns of a possible recession.

9/5/2023

GLOBAL ECONOMY Global business activity showed signs of slowdown in August -PMIs

Global business activity slowed further last month as services firms struggled with weak demand, potentially leading to a recession in the euro zone and a decline in the UK's private sector activity.

9/5/2023

China's services activity falls in August to its lowest level in eight months

9/5/2023

U.S. factory orders plunge in July after four straight gains

U.S. manufactured goods orders experienced a significant 2.1% decline in July, the first drop in four months, due in part to higher interest rates impacting business equipment spending.

9/5/2023

Column: Prolonged US manufacturing slowdown barely dents energy use

9/5/2023

Lebanon private sector activity falls to 7-month low as output and new orders decline

9/20/2023

UK Inflation Falls to Lowest in Over a Year Thanks to Slowing Food Prices

9/21/2023

Leading Economic Indicator Declines for 17th Month, Signaling Potential Recession Risk Despite Ongoing Growth

The leading economic indicator dropped 0.4% in August, marking the 17th consecutive month of decline, but there is no indication of a recession in the U.S.