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☆ U.S. to Limit Deadly Mining Dust as Black Lung Resurges
▼ + stars: | 2024-04-16 | by ( Chris Hamby | ) www.nytimes.com time to read: +1 min

Federal regulators on Tuesday will issue new protections for miners against a type of dust long known to cause deadly lung ailments — changes recommended by government researchers a half-century ago. Mining companies will have to limit concentrations of airborne silica, a mineral commonly found in rock that can be lethal when ground up and inhaled. The new requirements will affect more than 250,000 miners extracting coal, a variety of metals, and minerals used in products like cement and smartphones. Tuesday’s announcement is the culmination of a tortuous regulatory process that has spanned four presidential administrations. As progress on the rule stalled, government researchers documented with growing alarm a resurgence of severe black lung afflicting younger coal miners, and studies implicated poorly controlled silica as the likely cause.

Persons: ”, Chris Williamson, “ Organizations: Miners, Health Administration

☆ Latest European inflation figures support a June rate cut, economist says
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLatest European inflation figures support a June rate cut, economist saysChris Williamson, chief business economist at S&P Global Market Intelligence, discusses the February purchasing managers' index and euro zone inflation figures.

Persons: Chris Williamson Organizations: P Global Market Intelligence

☆ There is uneven recovery across different sectors and member states of euro zone economy: economist
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is uneven recovery across different sectors and member states of euro zone economy: economistChris Williamson, chief business economist at S&P Global Market Intelligence, discusses the latest euro zone flash PMI data and explains how it will impact the European Central Bank's next interest rate decision.

Persons: Chris Williamson Organizations: P Global Market Intelligence, Central Bank's

☆ The labor market is starting to show its cracks, economist says
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe labor market is starting to show its cracks, economist saysChris Williamson, chief business economist at S&P Global Market Intelligence, says companies are beginning to "look ahead and think their order book situation is not sustainable for this … level of employment."

Persons: Chris Williamson Organizations: P Global Market Intelligence

In the United States, the manufacturing sector pulled out of a five-month contraction on a pickup in new orders, and services activity accelerated modestly amid signs of easing inflationary pressures. HEADACHE FOR THE ECBIn the euro zone, business activity drooped as demand fell in a broad-based downturn across the region, causing the bloc to enter the fourth quarter on the wrong foot and suggesting it may slip into recession. "The flash PMIs mark a poor start to October for the euro zone, especially after showing some early signs of recovery in September," said Rory Fennessy at Oxford Economics. Suggesting a recession is well underway in Germany, Europe's largest economy, business activity contracted there for a fourth straight month as the downturn in manufacturing was matched by a renewed decline in services, its PMI showed. In France, the euro zone's second-largest economy, business activity remained in contraction territory in October, PMI data showed, improving just slightly from September's near three-year low.

Persons: Rebecca Cook, Chris Williamson, Christine Lagarde's, Rory Fennessy, Williamson, Ajay Banga, Dan Burns, Jonathan Cable, Lindsay Dunsmuir, Andrea Ricci Organizations: Ford Rouge Electric Vehicle, REUTERS, P Global, Composite, Federal, Commerce Department, Reuters, P, P Global Market Intelligence, P Global PMI, September's, European Central Bank, Oxford Economics, PMI, European Union, Bank of, Palestinian, Hamas, Thomson Locations: Dearborn , Michigan, U.S, United States, joblessness, Germany, Europe's, France, September's, Britain, Gaza, Ukraine

The preliminary reading of the UK S&P Global Purchasing Managers' Index (PMI) for the services sector sank to its lowest since the pandemic lockdown of January 2021 and below all forecasts in a Reuters poll of economists. PMIs for the euro zone picked up a little but still suggested a recession was approaching. Official data showed retail sales rose in August, partially recovering from a rain-induced plunge in July, and a measure of consumer confidence climbed to its highest since January 2022. However, data company S&P Global said its survey was consistent with a drop in quarterly economic output of 0.4%. "The disappointing PMI survey results for September mean a recession is looking increasingly likely in the UK," said Chris Williamson, chief business economist at S&P Global.

Persons: Molly Darlington, BoE, Sterling, Martin Beck, Beck, Chris Williamson, Samuel Tombs, Andy Bruce, Toby Chopra Organizations: REUTERS, P, CBI, Bank of England, P Global, U.S, Confederation of British Industry, PMI, Pantheon, Thomson Locations: Altrincham, Britain

☆ Huge concern about the demand outlook for Europe’s biggest economies, economist says
▼ + stars: | 2023-09-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHuge concern about the demand outlook for Europe’s biggest economies, economist saysChris Williamson, chief business economist at S&P Global Market Intelligence, discusses the economic outlook for the euro zone and reflects on the latest data.

Persons: Chris Williamson Organizations: P Global Market Intelligence

☆ US economy near stalling point as consumer demand weakens, survey says
▼ + stars: | 2023-08-23 | by ( Safiyah Riddle | ) www.reuters.com time to read: +2 min

REUTERS/Jeenah Moon/File Photo Acquire Licensing RightsAug 23 (Reuters) - U.S. business activity approached the stagnation point in August, with growth at its weakest since February as demand for new business in the vast service sector contracted. Wednesday's data was worse than expected, with economists polled by Reuters predicting that the services index would be 52.2 and the manufacturing index would be 49.3. "A near-stalling of business activity in August raises doubts over the strength of U.S. economic growth in the third quarter. Consumer demand posed a substantial drag on revenue for firms, as new business and orders contracted for firms across all sectors. New business in the service sector declined for the first time in six months, falling to 49.2 from 51.0 the month prior.

Persons: Chris Williamson, Safiyah Riddle, Chizu Organizations: REUTERS, P Global, Service, Manufacturing, Reuters, P Global Market Intelligence, Consumer, Fed, Thomson Locations: Little Italy, Manhattan, New York City , New York, U.S

☆ PMIs show euro zone support from services sector has faded, economist says
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPMIs show euro zone support from services sector has faded, economist saysChris Williamson, chief business economist at S&P Global Market Intelligence, discusses PMI figures for the euro zone and Germany, which sharply missed expectations.

Persons: Chris Williamson Organizations: P Global Market Intelligence Locations: Germany

☆ Factory slump and cost-of-living squeeze puts UK economy on course to shrink
▼ + stars: | 2023-08-23 | by ( David Milliken | ) www.reuters.com time to read: +4 min

The BoE said earlier this month it only saw inflation falling below 4% from the second quarter of 2024. The PMI survey recorded the slowest growth in output prices since February 2021. Manufacturers - who make up 10% of Britain's economy - reported the biggest fall in output prices since February 2016, echoing wider weakness in the sector. "Companies are reporting reduced orders for goods and services as demand is increasingly hit by the cost-of-living crisis, higher interest rates, export losses and concerns about the economic outlook," Williamson said. Manufacturers said this fall appeared to be an attempt to reduce the need for working capital at a time of rising interest rates.

Persons: Carl Recine, BoE, Queen, Chris Williamson, Sterling, James Smith, P's Williamson, Williamson, David Milliken, William Schomberg, Hugh Lawson Organizations: REUTERS, PMI, P, P Global Market Intelligence, Bank of England, ING, Manufacturers, Thomson Locations: Altrincham, Britain

☆ U.S. business activity growth slows as services soften
▼ + stars: | 2023-07-24 | by ( Safiyah Riddle | ) www.reuters.com time to read: +3 min

July's reading showed the sixth straight month of growth but was restrained by softening conditions in the service sector. “The overall rate of output growth, measured across manufacturing and services, is consistent with GDP expanding at an annualized quarterly rate of approximately 1.5% at the start of the third quarter. The slowdown may be viewed positively at the Fed, which is keen to see activity cool to lower inflation. The services activity index fell to 52.4 from 54.4 in June and was weaker than the reading of 54 expected among economists in a Reuters poll. The survey's manufacturing output index, meanwhile, experienced growth for the first time in two months, rising to 50.2 from a contracting rate of 46.9 in June.

Persons: Chris Williamson, Williamson, Safiyah Riddle, Andrea Ricci Organizations: P Global, P Global Market Intelligence, headcount, Thomson Locations: U.S

☆ UK economy stumbles but price pressures remain high
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 23 (Reuters) - Britain's economy showed signs of a slowdown this month but inflation pressures stayed high, according to a survey published a day after the Bank of England raised interest rates sharply and said it was ready to do more to tame price growth. The preliminary or 'flash' survey showed Britain's services sector grew at its slowest pace in three months while the manufacturing sector contracted by the most in six months. The BoE is expected to continue raising borrowing costs as it tries to tackle inflation which held at 8.7% in May. The PMI survey showed services firms increased their prices sharply once again this month although a bit less steeply than in May. By contrast, manufacturers cut the prices they charged for the first time in more than seven years.

Persons: Chris Williamson, BoE, Williamson, William Schomberg, Susan Fenton Organizations: Bank of England, P Global Market Intelligence, PMI, Companies, Thomson

☆ Higher interest rates are taking their toll on business activity, economist says
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigher interest rates are taking their toll on business activity, economist saysChris Williamson, chief business economist at S&P Global Market Intelligence, breaks down the latest PMIs figures out of the euro zone.

Persons: Chris Williamson Organizations: P Global Market Intelligence

☆ US business activity growth slows in June but services keep humming along
▼ + stars: | 2023-06-23 | by ( Dan Burns | ) www.reuters.com time to read: +4 min

June 23 (Reuters) - U.S. business activity fell to a three-month low in June as services growth eased for the first time this year and the contraction in the manufacturing sector deepened, closely watched survey data out Friday showed. Nonetheless, it was the fifth straight month that the PMI remained above 50, indicating growth in the private sector. The survey's flash services sector PMI fell to 54.1 from 54.9 in May. Economists polled by Reuters had forecast the services PMI would ease to 54.0. Its flash manufacturing PMI dropped to 46.3 from 48.4 in May and was weaker than economists' median forecast of 48.5.

Persons: Chris Williamson, Williamson, Dan Burns, Chizu Organizations: P Global, PMI, P Global Market Intelligence, Commerce Department, Fed, Investors, Reuters, Thomson Locations: Atlanta

☆ European business activity slows in June as higher interest rates begin to bite
▼ + stars: | 2023-06-23 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Business activity growth in Europe slowed in June, pointing to a difficult end to the second quarter, according to preliminary data Friday. Speaking to CNBC's Street Signs Europe, Chris Williamson, chief business economist at S&P Global Market Intelligence, described the numbers as "worrying." "Higher interest rates, the rise in the cost of living, all beginning to take their toll," he said. The European Central Bank has been increasing interest rates consistently for the past 12 months in an effort to bring down inflation. Higher rates can lead to higher costs for companies across the bloc, however, and so often become a drag on output.

Persons: Chris Williamson Organizations: P, P Global, P Global Market Intelligence, European Central Bank Locations: Europe

☆ China's service sector remains a bright spot as factory data disappoints, Caixin reading shows
▼ + stars: | 2023-05-05 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

China's services activity remained well within growth territory in April as a private survey showed a softer reading from March. Atlantide Phototravel | Corbis Documentary | Getty ImagesChina's services activity remained well within growth territory in April, even as a private survey showed a softer reading compared with March. The latest Caixin reading suggests that services activity is still "undergoing a fast recovery," according to Wang Zhe, senior economist at Caixin Insight Group. The continued expansion in China's services activity stood in contrast to the disappointing factory activity reported earlier in the week. "It is worth noting that manufacturing and services activity diverged, with employment and input costs in the manufacturing sector contracting significantly," Wang wrote.

☆ Why Prices, Inflation Are Still Soaring: Corporate Price Gouging
▼ + stars: | 2023-05-02 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

While many of the problems that helped trigger the upward spiral have abated, prices are still high and getting higher. The idea that companies are taking advantage of disruptions to push price increases on consumers has many names — greedflation, excuseflation, price gouging, corporate profiteering — but the gist is the same. Supply-chain issues and other disruptions made sense as drivers of higher prices, Chris Becker, a senior economist and the associate director of policy and research at the Groundwork Collaborative, told me. "Working people are suffering thanks to corporate greed, so we need to enact tougher rules to ensure corporations pay a price when they price gouge." Working people are suffering thanks to corporate greed, so we need to enact tougher rules to ensure corporations pay a price when they price gouge.

The survey's flash services sector PMI rose to 53.7, the highest reading in a year, from 52.6 in March. Economists polled by Reuters had forecast the services PMI falling to 51.5. Flash PMIIn the euro zone, the bloc's dominant services industry saw already-buoyant demand rise too, more than offsetting a deepening downturn in manufacturing. However, the manufacturing PMI fell to 45.5 from 47.3, its lowest since the coronavirus pandemic was cementing its grip on the world three years ago. "The PMI sheds a positive light on the economic performance in the euro zone, as a pickup in service sector activity is boosting growth," said Bert Colijn, senior euro zone economist at ING, noting manufacturing weakness remained a concern.

The PMI was driven by the services sector as consumer spending on travel, leisure and entertainment showed strength while manufacturing remained weak. S&P Global's input price index - a good guide to future inflation pressures - showed the slowest growth in costs for firms since March 2021, although overall cost pressures remained high by historical standards. There were also signs of recovery in Friday's consumer confidence survey by polling firm GfK which rose to its highest since February last year, albeit to weak levels. There was a reminder of the problems facing many consumers in official retail sales data also published on Friday. "A strong performance from retailers in January and February means the three-month picture shows positive growth for the first time since August 2021," he said.

☆ Euro zone factory downturn deepened in March, PMI shows
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 3 (Reuters) - Activity at struggling factories across the euro zone fell further last month as consumers feeling the pinch from rising living costs cut back, according to a survey which did show the cost of manufacturing fell for the first time since mid-2020. S&P Global's final manufacturing Purchasing Managers' Index (PMI) fell to 47.3 in March from February's 48.5, just ahead of a preliminary reading of 47.1 but below the 50 mark separating growth from contraction for a ninth month. Lower energy costs and healing supply chains did however mean input prices fell for the first time since July 2020 - just when the coronavirus pandemic was cementing its grip on the world. Despite having embarked on the most aggressive tightening of monetary policy in the central bank's history, prices rose 6.9% last month, official data showed on Friday. Reporting by Jonathan Cable; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Euro zone services sector resurging as economic fears ease: economist
▼ + stars: | 2023-03-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuro zone services sector resurging as economic concerns ease and travel picks up: economistChris Williamson, chief business economist at S&P Global Market Intelligence, says the latest flash euro zone PMI figures show resurgent growth in the services sector, but "manufacturing is a stagnant picture."

☆ Euro zone recovery gathers pace, allays fears of recession-PMI
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 3 (Reuters) - The recovery in euro zone business activity gathered pace last month as growth accelerated in the bloc's dominant services industry, a survey showed, providing the latest piece of evidence suggesting the currency union will avoid a recession. "A resounding expansion of business activity in February helps allay worries of a euro zone recession, for now," said Chris Williamson, chief business economist at S&P Global. Demand picked up and firms were able to build up a backlog of work for the first time since October. The new business index bounced to 52.2 from 50.1. With demand strong business across the region raised prices again, albeit at the slowest pace in over a year.

☆ Euro zone factory output returned to growth in February -PMI
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

S&P Global's final manufacturing Purchasing Managers' Index (PMI) dipped to 48.5 in February from January's 48.8, in line with a preliminary reading but still below the 50 mark separating growth from contraction. That healing of supply chain strains led to another sharp diminishing of the cost burden faced by factories. The input prices index slumped to 50.9 from 56.3 in January, its lowest reading since September 2020. However, the output prices index remained high. "Although factory selling prices continued to rise sharply, albeit with the rate of increase easing to a two-year low, this in part reflects the usual lagged effect of changes in costs feeding through to output prices," Williamson said.

"This is an encouraging set of data, but still is only one month, and challenges remain." Global oil prices went higher, underlining how a strong Chinese recovery could fuel global inflation through increased energy demand. STUBBORN INFLATIONIn Europe, German data showed the fight against inflation still has some way to go. Factory activity continued to shrink in Taiwan and Malaysia in February, and expanded at a slower pace in the Philippines, surveys showed. Separate data showed South Korea's exports fell 7.5% in February from a year earlier, marking the fifth straight month of declines, partly due to a plunge in semiconductor exports.

☆ UK business activity unexpectedly rebounds in February -flash PMI
▼ + stars: | 2023-02-21 | by ( Andy Bruce | ) www.reuters.com time to read: +2 min

"Much better than anticipated PMI data for February indicate encouraging resilience of the economy," said S&P Global Chief Business Economist Chris Williamson. "While many companies continue to report tough operating conditions, especially in the manufacturing sector, the broader business mood has been buoyed by signs of inflation peaking, supply chains improving and recession risks easing." Williamson added that the survey data boosted the likelihood of a BoE rate hike next month, something which most economists polled by Reuters already expect. The PMI for the services sector rose to 53.3 in February from January's 48.7, the highest reading since June last year. Factory activity continued to contract but at a much reduced pace, with the manufacturing PMI increasing to 49.2 from 47.0, close to 50, the no-change mark.

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