Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

IHS MARKIT LTD.

(INFO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

UK private-sector growth slows to weakest since March - PMI data

08/04/2021 | 06:11am EDT
FILE PHOTO: The City of London financial district can be seen as people walk along the south side of the River Thames, amid the coronavirus disease (COVID-19) outbreak in London

LONDON (Reuters) - British private-sector growth slowed sharply last month due to supply-chain bottlenecks and high worker absences prompted by COVID-19 isolation requirements, a closely watched survey indicated on Wednesday.

Price pressures rose by the most since the survey began 25 years ago - a concern for the Bank of England as it finalises new inflation forecasts due on Thursday. To date, the BoE has said higher inflation will be temporary.

The IHS Markit/CIPS services Purchasing Managers' Index (PMI) sank to 59.6 in July, its lowest reading since March, from 62.4 in June. The broader composite PMI, which includes Tuesday's manufacturing PMI data, showed a similar drop, to 59.2 from 62.2.

"More businesses are experiencing growth constraints from supply shortages of labour and materials, while on the demand side we've already seen the peak phase of pent-up consumer spending," said IHS Markit's economics director, Tim Moore.

July's final PMI readings were well above preliminary "flash" data, however. IHS Markit said this reflected a boost to services businesses from the lifting of most remaining COVID-19 restrictions in England on July 19.

Britain's economy is rebounding fast after suffering its biggest fall in output in more than 300 years in 2020, but most economists think the fastest growth probably came in the three months to June, when COVID rules eased most.

Service businesses were hit last month by a "pingdemic" of hundreds of thousands of workers having to self-isolate for up to 10 days after being identified by a government smartphone app as a close contact of someone who had tested positive for coronavirus.

The daily number of new COVID-19 cases has now fallen by more than half since a peak on July 17 - just before social-distancing rules eased in England - and the government will relax self-isolation requirements from Aug. 16.

Even so, many businesses are finding it hard to recruit staff. Employment growth in the survey slowed to its weakest in three months, while service exports continue to be hampered by COVID-related travel restrictions.

Wage costs, higher fuel prices and transport were the biggest factors pushing up costs in the service sector, where managers reported raising prices by the most since July 1996.

(Reporting by David Milliken; Editing by Kevin Liffey)

By David Milliken


ę Reuters 2021
All news about IHS MARKIT LTD.
04:51aIHS MARKIT : Spectre of ‘stagflation' looms over UK economy
AQ
09/22IHS MARKIT : For Auto Makers, the Chip Famine Will Persist
PU
09/21IHS MARKIT : CEO of One of World's Largest Electric Companies on Being a Renewable Energy ..
BU
09/20CARFAX : Announces CEO Retirement And Succession Plan
PR
09/16S&P GLOBAL : Oppenheimer Adjusts S&P Global PT to $550 From $476, Maintains Outperform Rat..
MT
09/16CARFAX : As Many As 212,000 Vehicles Damaged By Hurricane Ida
PR
09/15IHS MARKIT : Poised to live with Covid-19, Southeast Asia relaxes restrictions
AQ
09/15Hazeltree Partners with IHS Markit to Deliver Treasury and Portfolio Finance Solutions
CI
09/14DANIEL YERGIN : “COP 26” Meeting is Biden's Next Move on The New Map of Geopol..
BU
09/13UNITED STATES OIL FUND LP ETF : Refined Product Demand to Peak in 15 years, IHS Markit Say..
MT
More news
Analyst Recommendations on IHS MARKIT LTD.
More recommendations
Financials (USD)
Sales 2021 4 660 M - -
Net income 2021 735 M - -
Net Debt 2021 4 082 M - -
P/E ratio 2021 66,7x
Yield 2021 0,65%
Capitalization 48 778 M 48 778 M -
EV / Sales 2021 11,3x
EV / Sales 2022 10,5x
Nbr of Employees 16 000
Free-Float 76,7%
Chart IHS MARKIT LTD.
Duration : Period :
IHS Markit Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends IHS MARKIT LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 122,37 $
Average target price 125,56 $
Spread / Average Target 2,60%
EPS Revisions
Managers and Directors
Lance Darrell Gordon Uggla Chairman & Chief Executive Officer
Jonathan Gear Chief Financial Officer & Executive Vice President
Yaacov Mutnikas Chief Technology Officer & Chief Data Scientist
Sari Granat Chief Administrative Officer & Executive VP
Deborah Doyle McWhinney Independent Director
Sector and Competitors