Global service sector contracted in June at slowest pace since September 2008
Jul 7th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
In June, the JP Morgan Global Services Business Activity Index pointed to a decline in service sector activity for the thirteenth successive month. At 47.4, compared with the neutral level of 50, the rate of contraction eased from the previous month to its weakest since last September - - the month when the US investment bank, Lehman Brothers, collapsed and accelerated the dip in global economic activity.