Global Service Sector Sees Mixed Growth Amid Economic Shifts

Recent data reveals varying trends in service sector activity across major economies, highlighting diverse economic conditions and challenges.

The U.S. services sector reached a 1.5-year high in September, driven by strong new orders, but employment declined due to cooling demand and previous interest rate hikes.
Canada's services PMI hit a six-month low, reflecting a challenging economic environment with declining job numbers and new business volumes.
The UK's construction sector experienced its fastest growth in over two years, supported by lower interest rates and increased infrastructure projects, despite rising input costs.
In the Eurozone, business activity contracted slightly, with France and Germany showing signs of stagnation, while Spain's services sector grew at its fastest pace in a year.
India's services sector growth slowed to a 10-month low, with demand cooling but business outlook remaining positive, prompting continued hiring.