Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Global Macro Monitor
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Global Sector PMI: Manufacturing Flops, Services Pop

% of readers think this story is Fact. Add your two cents.


Based on the recent release of the June Global Sector PMI from S&P Global, the state of manufacturing in various global sectors during June 2023 shows a divergence in performance between manufacturing and services. Manufacturing-based sectors experienced a drop in output, while services sectors demonstrated growth. Here are some key observations:

  1. Manufacturing Sectors: a. Drop in Output: All six sectors that experienced a decline in output during June were manufacturing-based. The sectors with the sharpest drop in production were Forestry & Paper Products, Metals & Mining, and Chemicals. b. Input Costs: Inflationary pressures seemed to be softening, as June witnessed the lowest number of sectors with a rise in input costs in three years.

  2. Services Sectors: a. Growth and Performance: The five fastest-growing categories were all services sectors. Financials, particularly Insurance, showed rapid activity growth. Banks and Real Estate companies also experienced increased activity. b. Employment: Real Estate registered the fastest increase in employment among the 21 categories covered. Hiring activity and wage pressures in Real Estate pushed up staff costs.

  3. Other Observations: a. Tourism & Recreation: The Tourism & Recreation sector continued to grow solidly but at a slower rate than in the previous four months. The growth of new businesses in this sector also eased. b. Beverages & Food: Output in the Beverages & Food sector remained broadly unchanged. c. Healthcare Services: Workforce numbers in the Healthcare Services sector decreased significantly, reaching the second-largest extent on record (second to May 2020).

Overall, the manufacturing sectors faced challenges with declining output, while services sectors, particularly Financials and Real Estate, demonstrated growth. The softening of inflationary pressures and reduced input costs across various sectors indicate a potential easing of price pressures. However, the decrease in workforce numbers within the Healthcare Services sector suggests a notable exception to the overall resilience in staffing levels.

AI-Assisted


Source: https://global-macro-monitor.com/2023/07/08/global-sector-pmi-manufacturing-flops-services-pop/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.