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Recent News and Articles on the Keywords: year low + service sector + growth  Related to the article below (Last Update: 6/11/2008)

Bernanke aggravates trade deficit risks
Asia Times Online, Hong Kong -
Cutting the trade deficit in half would boost US GDP growth by one percentage point a year, and the trade deficits of the last two decades have reduced US ...
Major economic indicators perform negatively in 2007-08
Daily Times, Pakistan - Jun 9, 2008
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The Post, Pakistan -
Other major contributors to overall fixed investment growth are: wholesale and retail trade (9.3 %); services (10.6 %); public sector and general government ...
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all 5 news articles »
Paulson Remarks on Fourth Meeting of the US-China Strategic ...
7thSpace Interactive (press release), NY -
Increasing the pace of reform of China's financial services markets is also important to further support the growth and development of China's economy. ...HKG:235
US Impact on Latin America
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In short, the overall statistics showing that the economies of Latin America experienced near record growth last year do not begin to tell the whole story. ...
As inflation hits another high, a growth-focused government finds ...
Business Today Egypt, Egypt -
At the same time that Egypt is being buffeted by these winds, the factors that have underpinned previous inflation ? above 7% growth, low productivity, ...
Obama: Willing to defer some new taxes
Baltimore Sun, United States - Jun 10, 2008
"But I think the basic principle of restoring fairness to our economy and encouraging bottom up economic growth is important. "Over the last decade or so... ...
Philippines needs policy overhaul to sustain growth
guardian.co.uk, UK - Jun 9, 2008
The Philippines' 7.2 percent GDP growth in 2007 was a 31-year high, and came while inflation remained at a two-decade low. Private consumption, boosted by ...
Editorial: Export exuberance
Business Standard, India -
Over much of 2007, after the rupee began appreciating in March of that year, there was a significant divergence between the growth rates in dollar terms, ...
Poor Energy Hampers Productivity - Yar'Adua
AllAfrica.com, Washington - Jun 10, 2008
President Umaru Yar'Adua says that the poor state of the energy sector has hampered productivity and economic growth in sub-Saharan Africa. ...
Source: Google News

[PDF] Securing our Future Health: Taking a Long-Term View -
D Wanless - London: HM Treasury, 2002 - rcpsych.ac.uk
... with low rates of technology uptake and low productivity; and ... To deliver the high
quality service envisaged, the Review ... engaged and 3.5 per cent a year in slow ...

The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience -
A Young - Quarterly Journal of Economics, 1995 - JSTOR
... more in each of the five-year periods, averaging ... economy, the principal source of
low produc- tivity ... able to differentiate capital input in services (where it ...

[PDF] What?s New about the New Economy? IT, Economic Growth and Productivity -
BP Bosworth, JE Triplett - International Productivity Monitor, 2001 - brookingsonline.net
... productivity growth was low. ... from around 1.5 percent per year in the 1973-95 period
to a ... definition of IT) are all in the services sector?in order, financial ...

Unbalanced Growth Revisited: Asymptotic Stagnancy and New Evidence -
WJ Baumol, SAB Blackman, EN Wolff - American Economic Review, 1985 - JSTOR
... percent of the bud- get and rises 6 percent per year (these, as ... of 5.42 percent in
communica- tions and broadcasting, a service sector, to a low of - 0.51 ...

[BOOK] Inflation and economic growth -
RJ Barro - 1995 - ideas.repec.org
... inflation rate by 10 percentage points per year is estimated ... Problems in the Measurement
and Performance of Service-Sector Productivity in ... "Is Low Inflation a ...
-

[PDF] The Share of Services in Economic Growth -
IB Kravis, AW Heston, R Summers - Survey of Current Business - pwt.econ.upenn.edu
... GDP) for 34 countries for the year 1975 (Kravis ... The consequences will be low prices
in low-income countries ... group Commodity Service GDP Commodity Service GDP ...

In-sourcing, Outsourcing, and the Growth of Contingent Labour as Evidence of Flexible Employment … -
KPJ Purcell - European Journal of Work and Organizational Psychology, 1998 - ingentaconnect.com
... Small fluctuations from year to year may reflect ... temporary employment in manual and
low-skill service ... of Recruitment and Employment Services, 1995) recent ...

Job Creation, Job Destruction, and Growth of Newly Established, Privatized, and State-Owned … -
V Bilsen, J Konings - Journal of Comparative Economics, 1998 - Elsevier
... manufactur- ing, trade, and services for the year 1994 only ... the job creation rate
is very low, while the ... The service sector is characterized by a very high job ...

Equity and health sector reforms: can low-income countries escape the medical poverty trap? -
M Whitehead, G Dahlgren, T Evans - The Lancet, 2001 - Elsevier
... high-income groups subsidise care for low-income groups. ... 40%, about US$160 billion
per year would be ... the cost of providing basic social services for developing ...

[PDF] Macropolicies in Transition to a Market Economy: A Three-Year Perspective
L Balcerowicz, A Gelb - Proceedings of the World Bank Annual Conference on …, 1994 - www-wds.worldbank.org
... soon reversed, but external debt service was sustained ... parity (PPP) level; Bulgari..,
with low reserves, saw ... real rates converged within a year toward levels of ...

Source: Google Scholar
   
   

Services sector growth slumps to 5- year low

Grainne Gilmore

The credit crunch began to impact the wider economy last month as growth in Britain's services sector, which includes hotels, restaurants and banks, fell to a five-year low.

Figures out today from the Chartered Institute of Purchasing and Supply’s purchasing managers’ index (PMI) show that growth in what accounts for about two thirds of the whole economy, slowed from 52.1 in March to 50.4 in April.

Any figure over 50 indicates expansion.

Price pressures on firms rose to a record high, with 67.3 per cent of purchasing managers reporting that prices rose rather than fell in April, up from 66.2 in March and the highest figure since records began in 1996.

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    Expectations of businesses also plummeted, to the lowest level since the terrorist attacks in 2001.

    Hotels and restaurants were particularly pessimistic, reporting that customers were reducing their spending.

    However there was some good news for consumers as the balance of companies reporting increases to their own prices rose at the slowest rate so far this year. A balance of 55.2 companies reported that they were increasing their prices in April, down from 56.2 in March.

    Roy Ayliffe, the director of professional practice at CIPS, said: “Purchasing managers in the UK services sector really struggled to protect their firms’ margins in April, as growth in the sector hit its lowest in over five years. New orders fell; energy, fuel and food costs soared and pricing power was restricted amid further deteriorating economic conditions.

    "These factors led to a depression in business confidence, particularly amongst hotels and restaurants, which were hit by customers' reduced spend, as well as financial services companies, who have obviously been most directly affected by the credit crunch.”

    There was some consolation for the MPC in the employment data from the index. Karen Ward of HSBC said: "Looking on the bright side there is some good news. Firms may not be expanding employment but are not yet shedding labour."

    Some experts say that the new data will add pressure on the Bank of England's Monetary Policy Committee to cut rates on Thursday.

    Howard Archer, of Global Insight, the economic consultancy, said: "Following on from recent weaker data and surveys relating to consumer confidence, retail sales, the housing market and manufacturing activity, essentially stagnant service sector activity in April puts serious pressure on the Bank of England to cut interest rates again on Thursday despite current elevated inflation concerns."

    They probably need to cut rates on Thursday.Its such a shame that the cornerstone of the Governments economic policy ( to control inflation ) is in tatters.The country now needs inflation in order to pay off the £1.4 trillion debt mountain.

    Stephen Hulton, eure, france

     

     

     

     
     
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