Sectors News Results

  • Service Sector in U.S. Shows Signs of Recovery

    U.S. services industries showed signs of recovery in June as businesses took early steps to reopen following the easing of some of the coronavirus-related lockdowns, according to two surveys of purchasing managers released Monday. But analysts warned those gains could be undone in July as a resurgence of cases in some states leads to another shutdown of businesses. Businesses in both surveys reported last month that demand had started to stabilize and that exports were...

  • U.S. Non-Manufacturing Sector Swings to Expansion in June - ISM

    The non-manufacturing sector in the U.S. returned to growth in June as the country continued to reopen, data from a survey compiled by the Institute of Supply Management showed Monday. The ISM Non-Manufacturing Report on Business PMI for June climbed to 57.1%, up 11.7 points from the May reading of 45.4%, surpassing the 50% no-change mark for the first time since the pandemic hit the U.S. This is the largest single- month increase in the index since its debut in 1997..

  • Conference Board's Employment Trends Index Rises in June for Second Consecutive Month

    An index measuring employment trends in the U.S. rose slightly in June for second consecutive month as the labor market continued to recover from the coronavirus shock to the economy, data from the Conference Board showed Monday. The Conference Board Employment Trends Index stood at 49.05 in June, compared with a downwardly revised figure of 45.27 in May. The labor market is still far from making up all lost ground, as the index is down 54.8% from a year ago, the report said.

  • U.S. Services Sector Activity Improves in June, But Still Signals Contraction -- IHS Markit

    Activity in the U.S. services sector improved in June for the second consecutive month, but remained in contraction territory, as the country continued to reopen amid Covid-19 infections on the rise in many states, data from IHS Markit showed Monday. The final reading for the U.S. Services Purchasing Managers' Index for June was 47.9, significantly higher than the 37.5 level registered in May and above the flash figure of 46.7.

  • Recession Led by Services Sector Is Particularly Painful for Latino Workers

    A dramatic drop in hotel stays, elective surgeries and dining out since the coronavirus outbreak in February is driving a recession that is unlike every other since the Great Depression. Prior downturns were largely led by lower spending on such things as cars, houses, and factories while this one is hitting the service industries. That change has meant Latino and Hispanic workers are being particularly hard hit, and economists expect the jobs recovery to be slow and halting as...

  • China's Economy Regains Strength After Strict Coronavirus Measures

    BEIJING--Economic activity is gathering momentum in China, a raft of survey data showed this week, the latest sign that Beijing's uncompromising approach to tackling the coronavirus pandemic is starting to pay dividends even as the U.S. shuts down swaths of its economy in a struggle to contain the virus. A private gauge of China's service-sector activity, released Friday, surged in June to its highest level in more than a decade, as the easing of virus-control measures in most...

  • U.S. Treasury Announces Loan Agreements With Five Major Airlines

    Treasury Department finalized terms of loans to five major airlines as part of an aid program to help the industry weather the coronavirus pandemic. The Treasury said that American Airlines Group Inc. (AAL), Frontier Airlines, Hawaiian Airlines, SkyWest Airlines and Spirit Airlines Inc. (SAVE) had agreed to loan terms and signed letters of intent. Air travel fell sharply this spring as government restrictions on travel and fears of infection kept passengers from flying.

  • India Approves Program to Improve Liquidity of Non-Bank Lenders

    The Indian government approved a program to improve the liquidity of non-bank financial companies and housing-finance companies to avoid any potential systemic risks to the financial sector, the country's central bank said Wednesday. Reserve Bank of India said that a special-purpose vehicle, set up by a State Bank of India (SBKFF) unit, would buy short-term papers from eligible financial companies, and they could only use the proceeds to pay off existing liabilities.

  • Texas Manufacturing Activity Swings to Expansion in June Despite Spike in Infections

    Manufacturing activity in Texas edged up sharply in June despite a recent surge in Covid-19 infections, data from a report about the state's industrial sector from the Federal Reserve Bank of Dallas showed Monday. The production index stood at 13.6 in June compared with minus 28.0 in May, the latest Texas Manufacturing Outlook Survey showed. June's reading marks an improvement of Texas factories' activity for a second consecutive month, after posting an historic low in April...

  • Automakers, Technology Firms Are Largest Components of Fed's Corporate-Bond Purchases

    Apple Inc., Verizon Corp. and the U.S. divisions of several foreign auto makers are among the largest direct beneficiaries of Federal Reserve efforts to support the corporate-debt market, according to disclosures Sunday. In all, the Fed on Sunday identified 794 companies whose bonds it will be buying directly to support the market for investment-grade corporate debt. In addition to Apple and Verizon, the recipients include AT&T Inc. and the U.S. units of Toyota Motor Corp.,...

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