US faces hiring slowdown in coming months
28 October 2014
Hiring in the world’s largest economy could slow further in the coming months after the latest US data indicated that economic growth eased for the fourth consecutive month in October.
Tue, 28 Oct 2014Hiring in the world’s largest economy could slow further in the coming months after the latest US data indicated that economic growth eased for the fourth consecutive month in October.
The US saw its weakest rise in October in service sector activity since spring, with new business slipping to a three-month low, according to the latest Purchasing Managers’ Index.
Payroll numbers were boosted in the period in response to rising sales volumes and pressure on operating capacity during October, and the rate of job creation went unchanged from the three-month high seen in September.
The latest survey indicated that service sector companies remain upbeat about their prospects for activity growth over the year ahead.
Around 44% of the survey panel anticipate a rise in output, while only 7% forecast a reduction. However, the degree of business confidence was the weakest since July and one of the lowest readings seen over the past two years.
Some firms suggested that rising economic uncertainties, and signs of softer sales growth in recent months, had weighed on their business confidence during October.
The US saw its weakest rise in October in service sector activity since spring, with new business slipping to a three-month low, according to the latest Purchasing Managers’ Index.
Payroll numbers were boosted in the period in response to rising sales volumes and pressure on operating capacity during October, and the rate of job creation went unchanged from the three-month high seen in September.
The latest survey indicated that service sector companies remain upbeat about their prospects for activity growth over the year ahead.
Around 44% of the survey panel anticipate a rise in output, while only 7% forecast a reduction. However, the degree of business confidence was the weakest since July and one of the lowest readings seen over the past two years.
Some firms suggested that rising economic uncertainties, and signs of softer sales growth in recent months, had weighed on their business confidence during October.
