Market News
LONDON, Sept 5 - Business activity in Britain's services sector fell last month for the first time since January as higher interest rates reduced consumer and corporate demand, a survey showed on Tuesday, although the drop was less than initially estimated.
"Service providers saw customer spending reverse course during August as higher borrowing costs, subdued business confidence, and stretched household finances all acted to curtail sales opportunities," Tim Moore, economics director at S&P Global, said on Tuesday. Earlier on Tuesday, Barclays reported a slowdown in consumer spending growth in August, which it said was partly due to unusually wet summer weather as well as the broader cost-of-living squeeze.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK PMI survey shows sharpest business slowdown in 7 monthsBy David Milliken LONDON (Reuters) - Business activity in Britain's services sector fell last month for the first time since January as higher interest ...
Read more »
Global News Hour at 6 Calgary: Sept. 4 | Watch News Videos OnlineWatch Global News Hour at 6 Calgary: Sept. 4 Video Online, on GlobalNews.ca
Read more »
UAE's non-oil business growth slows in August but confidence high-PMIDUBAI (Reuters) - Growth in non-oil business activity in the United Arab Emirates eased in August to the slowest pace in six months, but business ...
Read more »
Russian services activity grows in Aug at fastest rate in five months -PMIMOSCOW (Reuters) - Activity in Russia's services sector grew at the fastest rate in five months in August as the sharpest rise in new orders since July ...
Read more »
Italy's service sector contracts in August for first time in 2023 -PMIROME (Reuters) - The Italian services sector contracted very slightly in August - the first time it has done so this year - signalling the possible ...
Read more »