Global Services Sector Shows Mixed Trends in November

Economic performance varied across key regions, with growth in India and Ireland contrasting with contractions in Europe and slowing momentum in China and the UK.

• India's services sector recorded its fastest employment growth since 2005, driven by strong domestic and international demand, despite rising costs.
• European economies saw widespread contractions in services activity, with Germany, Italy, and France reporting declines, and the eurozone composite PMI dropping to 48.3.
• The UK's services sector growth slowed to a 13-month low, attributed to tax increases and rising employment costs from the autumn Budget.
• China's services activity expanded at a slower pace, reflecting easing new business growth and external uncertainties, including potential U.S. trade tariffs.
• Ireland and Russia experienced notable growth in their services sectors, with Ireland reaching a 19-month high and Russia seeing its fastest expansion since January.

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