The upturn in global service sector activity slowed in April.
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At 52.7, down from 53.7 in March, the J.P.Morgan Global Services Business Activity Index a composite index produced by J.P.Morgan and IHS Markit in association with ISM and IFP dipped to a three-month low and stayed below its long-run average of 54.2.
The headline index has signalled expansion throughout the past 117 months.
Due to a later-than-usual release date, Japan Services PMI data were not available to include in the April 2019 global readings.
Rates of output expansion eased across the three subindustries covered by the survey, registering a 31-, twoand three-month lows at business, consumer and financial service providers respectively.
All three categories also saw growth of new business weaken.
Germany (seven-month high), Ireland (three-month low) and China (15-month high) saw the fastest rates of expansion in business activity during April.
The US and Spain also registered above-global-average growth.
Brazil was the only nation to signal a contraction, although the pace of decline was only marginal.
April saw new work rise at the slowest pace in three months, despite a modest increase in new export orders.
The pace of job creation ticked higher, but remained among the weakest over the past two years.
Staffing levels were raised across the business, consumer and financial services sectors.
Subdued new order growth combined with higher employment meant backlogs of work were broadly unchanged.
Employment increased in the US, Russia, the euro area, China and India, with rates of expansion improving in the latter three.
In contrast, the UK, Australia and Brazil all reported job cuts during the latest survey month.
Price inflationary pressures moderated in April, with rates of increase in input costs and output charges the weakest for one-and-a-half years.
Business optimism declined to a 34-month low, mainly due to weaker confidence at financial service providers.
Sentiment improved in both the consumer and business service sectors. ■