The growth rate of US business activity slowed to its slowest level this year in April.247freepokergamesThe reason is that the decline in demand has led to a decline in employment for the first time since 2020.

The forecast value of the S & P global composite index of manufacturing and services output fell by 1. 5% in April.247freepokergames.2 o'clock to 50247freepokergames.9, the biggest drop since August. An index above 50 indicates that the economy is expanding. The composite index of orders showed that the economy contracted for the first time in six months.

The employment index fell 3.2 points to 48, reflecting shrinking employment in the service sector and a slowdown in manufacturing. At the same time, the composite price index fell from a 10-month high.

Chris Chris Williamson, chief business economist at Standard & Poor's Global Market Global Market Intelligence, said in a statement: "US economic activity lost at the beginning of the second quarter.247freepokergamesIt gives me motivation. " New business inflows fell in April for the first time in six months as expectations for future output fell to a five-month low as concerns about the outlook intensified. "

"if you ignore the early months of blockade, the more challenging business environment has prompted companies to cut jobs at a rate not seen since the global financial crisis," Williamson said. "

The decline in the employment index shows that companies believe that current capacity is sufficient to cope with demand. The backlog of orders for the month is still in the contraction range.

New business from service providers shrank for the first time since October, with some companies saying rising borrowing costs and high prices limited demand.

The overall index of service sector activity fell to its lowest level in five months, while manufacturing PMI contracted slightly.