Private trade group says service sector grew in September for first time in a year

October 5th, 2009 Service sector grows in Sept., 1st time in yearNEW YORK — The U.S. service sector grew in September for the first time in 13 months, an encouraging sign for the fledgling economic recovery, although jobs remain scarce.

October 1st, 2009 ISM: Manufacturing sector grew in SeptemberNEW YORK — A private measure of the manufacturing sector grew for a second straight month in September, but at a slower pace than in August, another sign pointing to a bumpy economic recovery. The Institute for Supply Management, a trade group of purchasing executives, said Thursday that its index measuring the industrial sector read 52.6 last month.

September 30th, 2009 WASHINGTON - Eyeing India's estimated $100 billion nuclear pie, a US-India trade group has hailed reservation of two sites for US commercial nuclear technology as a "significant step" toward implementing the US-India civil nuclear deal. The Indian cabinet has reserved sites at Mithi Virdi in Gujarat and at Kovada in Andhra Pradesh to host the US reactor parks.

September 3rd, 2009 US service sector inched closer to growth in Aug.NEW YORK — The U.S. economy's service sector inched closer to growth in August, but still shrank for the 11th straight month in the face of weak consumer spending.

September 3rd, 2009 US service sector contraction slows in AugustNEW YORK — A trade group's measure of U.S. service sector activity shows last month's decline was the slowest in 11 months.

August 2nd, 2009 DUBAI - A sharp rise in public and private investments helped the United Arab Emirates' (UAE) real non-oil sector to grow by around 3.9 percent last year despite a slowdown in the second half because of the global financial crisis, WAM news agency reported Sunday. From about 282.9 billion dirhams (about $77 billion) in 2007, the non-oil sector's contribution to the country's real gross domestic product (GDP) grew to nearly 294 billion dirhams (about $80 billion) in 2008, the economy ministry's figures show.

July 13th, 2009 NEW DELHI - Corporate Affairs Minister Salman Khurshid Monday said the existing Companies Act did not empower the government to ask the private sector for providing minorities with jobs. "Despite this, the government has started the process of developing a common perspective on the issue of voluntary affirmative action by the corporate sector," Khurshid said in a written reply to Rajya Sabha.

July 10th, 2009 NEW DELHI - India's industrial production registered 2.7 percent growth in May - the highest since September last year - signalling economic recovery, fresh data showed Friday. The index of industrial production (IIP) had expanded by 1.4 percent in April, signalling the early signs of recovery.

July 6th, 2009 Service sector shrinks less than expected in JuneNEW YORK — The U.S. services economy — from retailers and restaurants to real estate brokers — contracted less than expected in June in its best showing since before the financial crisis struck last fall, according to a private trade group's gauge.

June 19th, 2009 AHMEDABAD - Despite the global economic slowdown, the service sector in India contributed 56 percent to the GDP during 2008-09, according to an expert. "With innumerable surveys revealing the immense growth prospects in India and the country being projected as one of the high-growth economies in the world, there is an increasing realisation for the need of more professionals and experts in financial planning," Ranjeet S.

June 16th, 2009 WASHINGTON - Ahead of a meeting with Commerce and Industry Minister Anand Sharma, the US has declared its commitment to enhancing dialogue with India on key trade policy issues, including a bilateral investment treaty. US Trade Representative Ron Kirk will discuss these issues with Sharma during a roundtable at the US-India Business Council's Synergies Summit here Wednesday.

June 3rd, 2009 Group says US service economy shrinks in MayNEW YORK — The U.S. services economy shrank in May at the slowest pace since October, a private group said Wednesday.

April 24th, 2009 THIRUVANANTHAPURAM - Deposits by non-resident Indians (NRIs) in Kerala banks grew from Rs.31,865 crore in June 2008 to Rs.34,649 crore as on Dec 31, 2008, according to the State Level Bankers Committee (SLBC). The SLBC in a meeting here Friday said the State Bank group has posted higher growth in deposits during the period than the other nationalised and private banks.

February 14th, 2009 NEW DELHI - India's service sector could see slower growth, said a Confederation of India Industry (CII) report released here Sunday. According to CII, recent data on specific service sector activities gives a mixed picture - while there has been a sharp drop in indicators such as tourist arrivals or air freight and passenger movements, railway traffic and cellular subscriber growth have been holding up.

December 27th, 2008 NEW DELHI - Despite the global economic slowdown, some segments of India's services sector, including IT, education and organised retail, retained 'high' growth rate of 10-20 percent this fiscal, an industry lobby survey said here Sunday. The survey by the the Federation of Indian Chambers of Commerce and Industry (Ficci ) said: 'Although the slowdown is expected to make a further dent in the growth of some segments of the sector, given its overall contribution of 63 percent to the GDP (gross domestic product), the services sector growth is expected to help maintain a healthy GDP growth this fiscal.' According to the survey, the number of wireless subscribers grew 50 percent in April-November compared to the same month last year.