US: New business intakes fall for first time in two years as war in the Middle East and inflation hit demand

It is a pleasure to open this conference on climate, nature and monetary policy – the first of its kind at the ECB and one that would have been hard to imagine even a decade ago. ...

Economic activity in the services sector continued to expand in April, say the nation's purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® registered 53.6 percent, the 22nd consecutive month in expansion territory. The report was issued today by Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In April, the Services PMI® registered 53.6 percent, a decrease of 0.4 percentage point compared to March's figure of 54 percent. The Business Activity Index remained in expansion territory in April, increasing 2 percentage points to 55.9 percent from March's reading of 53.9 percent. The New Orders Index registered 53.5 percent, 7.1 percentage points below March's figure of 60.6 percent and 0.4 percentage point below its 12-month average reading of 53.9 percent. The Employment Index contracted for the second month in a row with a reading of 48 percent, a 2.8-percentage point increase from the 45.2 percent recorded in March," says Miller. "The Supplier Deliveries Index registered 56.8 percent, 0.6 percentage point higher than the 56.2 percent recorded in March. This is the 17th consecutive month that the index has b ISM Services 53.6 (est 53.7, last 54.0) New Orders 53.5 (est 57.3, last 60.6) Employment 48.0 (est 48.3, last 45.2) Prices Paid 70.7 (est 73.5, last 70.7) Exports 52.1 (50.7) Mixed ISM Services, prices pressure eased a bit but still suggesting a CPI at 4% pic.twitter.com/o9YFN0fjui

The number of job openings was unchanged at 6.9 million in March, the U.S. Bureau of Labor Statistics reported today. Over the month, hires increased to 5.6 million while total separations changed little at 5.4 million. Within separations, both quits (3.2 million) and layoffs and discharges (1.9 million) were little changed. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class. Job openings include all positions that are open on the last business day of the month. Hires and separations include all changes to the payroll during the entire month. Job Openings The number of job openings was unchanged at 6.9 million in March. The job openings rate, at 4.1 percent, changed little over the month. The number of job openings decreased in professional and business services (-318,000) but increased in finance and insurance (+98,000). (See table 1.) Hires The number of hires increased to 5.6 million (+655,000) and the rate increased to 3.5 percent in March, more than offsetting decreases in those measures the previous month. The number of hires increased in transportation, warehousing, and utilities (+108,000), and edged up in professional and business services (+165,000) and in accommodation and food services (+124,000). Hires decreased in federal government (-7,000). (See table 2.) Separations Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations include separations due to retirement, death, disability, and transfers to other locations of the same firm. In March, the number and rate of total separations were little changed at 5.4 million and 3.4 percent, respectively. Total separations were little changed in all industries in March. (See table 3.) In March, the number and rate of quits were little changed at 3.2 million and 2.0 percent, respectively. Quits decreased over the year by 285,000. Over the month, the number of quits increased in real estate and rental and leasing (+19,000). (See table 4 U.S. job openings have been stable, and the three-month moving average stood at 7 million in March There were 0.94 job vacancies for every worked counted as unemployed in March, in line with the recent trend. pic.twitter.com/03wCHzdWaT

The March New Residential Sales release also contains initial estimates for the month of February. Additional text has been added to highlight the month-to-month change from ...