Page 2 - Services Sector

Organised sector weathers second Covid wave on job front: Labour survey

Among industries, employment generated by the construction sector rose by 42% and the manufacturing sector by 22%

Entitlement under SEIS for services exports in FY20 capped at Rs 5 crore

The facility to claim benefits under SEIS on payments in Indian currency will not be available for services rendered in FY20

India formulating standards for services sector for high quality: Goyal

India is formulating standards for the services sector so that the country can have high quality of services to offer, Piyush Goyal said

India's economic recovery stumbles, setting stage for sustained low rates

A contraction in India's services sector deepened as localized curbs to control the virus spread hurt consumer demand and business activity

China's services activity growth slows in May to 55.1 from 56.3: Caixin PMI

China's services sector expansion slowed in May, a private sector survey showed on Thursday, with weaker overseas demand and increased costs putting pressure on businesses

Services activity at 1-yr high on rise in demand, favourable mkt conditions

If growth sustains in March, GDP may expand in Q4, contrary to official forecast

Services PMI rises to 52.8 in Jan on the back of demand, consumer optimism

That improved sentiment was in line with findings of a Reuters poll last month that predicted Asia's third-largest economy would recover from the Covid-19 crisis more strongly than previously thought

Labour turns to agri, construction as manufacturing fails to create jobs

Manufacturing accounted for 40 million jobs in 2019-20. In the first quarter this dropped to 24.6 million, implying a loss of over 15 million manufacturing jobs

Retail lending by banks shrinks sequentially in November, up 10% YoY

Within this space, vehicle loans continued to perform well, growing at an accelerated 10% this November, compared to 4.7% a year ago, RBI said in statement

Sharp 23.9% GDP fall in Q1 will take at least a year to recover: Economists

Current year will continue with a drop of 7-7.5% which is lower than the earlier anticipated 10%

Business optimism for Oct-Dec rises 57% over Q3 2020: D&B survey

Business optimism has witnessed an increase in the ongoing quarter supported by various measures taken by the government and the RBI to boost consumption demand during the festive season, says a survey. The fall in active cases of COVID-19 infected persons and the improvement in recovery rate also supported the business sentiment. The Dun & Bradstreet Composite Business Optimism Index stood at 46.2 for October-December 2020, registering an increase of 57.4 per cent as compared to the third quarter. The index is arrived at on the basis of a quarterly survey of business expectations. The latest survey was carried out in September and October and covered 350 chief executive officers and managing directors. The survey however revealed that optimism of respondents in the services sector has remained subdued and lower than the industrial sector across all parameters including sales, new orders, net profits, level of selling price and employees. "The improvement in the optimism level ...

Services activity grows for first time since Feb, PMI hits 54.1 in Oct

As in the manufacturing sector, employment declined for successive months in services sector too.

Operating profits of manufacturing companies declined in Q4FY20: RBI

The operating profits of services companies (IT and non-IT) decelerated due to moderation in sales growth during the last quarter of 2019-20, it said

Singapore's jobless rate jumps in Q2, nearing financial crisis peak

The overall unemployment rate climbed from 2.4% in the first quarter, moving within sight of a 3.4% peak hit during the global financial crisis of 2009

Lockdown 3.0: Rural India may drive demand recovery amid Covid-19 crisis

Top executives at auto, tractor and consumer packaged goods firms are optimistic. They are betting on the reverse migration of labourers boosting consumption and prediction of a favourable monsoon.

Policy change doesn't impact continuity

The apex court noted that there was continuous insurance coverage since 2007 and there was no evidence to show that the ailment was pre-existing

Services activity at 7-year high in January as new orders zoom: Survey

Nikkei India Services Purchasing Managers Index (PMI) stood at 55.5 in January, up from 53.3 in December

Slowdown blues: Services sector only bright spot for GVA growth rate

For the 'electricity, gas, water supply and other utility services' sector, GVA grew by 3.6 per cent against 8.7 per cent

Festive season pushes retail lending in Sept to 16.6% from 15% a year ago

Consumer durable and housing loan accelerated the most, service sector witnesses a sharp fall in the credit growth rate

Tipping point: India's export of services will soon exceed that of goods

As services exports succeed, the rupee will get stronger and the manufacturing sector will find it harder to compete globally, causing a shortage of domestic jobs for rural youth, writes T N Ninan