Slower Services And Manufacturing Activities Point To Easing Global Economic Growth In 2H 2010 Global services activities in Asian countries such as Japan, China and India softened in May, while it remained stable in the US, indicating that the expansion of the sector may moderate in the months ahead along with softening trade activities and consumer spending. As a result, the global Purchasing Manager Index (PMI) for services, based on a survey conducted by JP Morgan and Markit Economics in London, moderated to 56.3 in May, the first easing in four months and from 56.8 in April. The weakness was reflected in a slowdown in new business activities during the month, the slowest in three months. This was, however, offset partially by a pick-up in backlogs of work and businesses started to recruit workers for the first time in more than two years in May, albeit cautiously. The gaining confidence in recruiting suggests that a recovery in the services sector will likely be more sustainable and will be resilient going forward. Meanwhile, input costs eased during the month, pointing to a moderation in price pressures.
The World Economy... - 4/6/2010
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