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UK service sector sees record high growth in more than seven years in April - World News

2021-05-06 14:35:44 GMT2021-05-06 22:35:44(Beijing Time) Xinhua English LONDON, May 6 (Xinhua) Britain s service sector output witnessed the fastest rise in April since October 2013 as business and consumer spending rebounded significantly amid the easing of lockdown restriction, according to a joint report released here Thursday. The purchasing managers index (PMI) Business Activity Index for the service sector surged to 61.0 in April, up from 56.3 in March, signalling the sharpest rate of output expansion for seven and a half years, revealed a joint survey by IHS Markit, a London-based global information provider, and the Chartered Institute of Procurement & Supply (CIPS), which serves the procurement and supply profession.

US Market gains on upbeat economic data

The US stock market finished session higher on Friday, 23 April 2021, as fresh economic data underscored that a strong economic recovery is under way. At the close of trade, the Dow Jones Industrial Average index advanced 227.59 points or 0.67% to 34,043. The S&P 500 index increased 45.19 points or 1.09% to 4,180. The tech-heavy Nasdaq Composite Index gained 198.40 points or 1.44% 14,017. The gains were shared broadly by nearly every sector in the index. Technology companies accounted for a big slice of the rally, along with banks, communication stocks and companies that rely on consumer spending. The utilities and consumer staples sectors closed slightly lower. ECONOMIC NEWS: The Commerce Department released a report showing new home sales skyrocketed by 20.7% to an annual rate of 1.021 million in March after plunging by 16.2% to a revised rate of 846,000 in February.

UK service sector rebounds strongly in March ahead of lockdown easing - World News

2021-04-07 13:36:08 GMT2021-04-07 21:36:08(Beijing Time) Xinhua English LONDON, April 7 (Xinhua) Britain s service providers reported a strong rebound in business conditions during March, with activity, new orders and employment all picking up since the previous month, according to a joint report released here Wednesday. The purchasing managers index (PMI) for the service sector rose to 56.3 in March, up sharply from 49.5 in February, signalling the fastest rate of output expansion for seven months, said the report following a joint survey by IHS Markit, a London-based global information provider, and the Chartered Institute of Procurement & Supply (CIPS), which serves the procurement and supply profession.

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