Latest news with #SethCarpenter
News18
3 days ago
- Business
- News18
India's Services Sector Booms in May; Job Creation Hits All-Time High Amid Strong Economic Tailwinds
Last Updated: IPOs worth Rs 1.4 lakh crore are in the pipeline for FY25, spanning sectors from infrastructure to consumer tech—pointing to growing investor appetite and corporate confidence India's services sector surged ahead in May this year, maintaining its powerful growth momentum and generating jobs at a record pace—signalling resilience in one of the country's key economic engines. According to the HSBC India Services Purchasing Managers' Index (PMI), business activity climbed to 58.8 in May from 58.7 in April, marking nearly three years of uninterrupted expansion. This steady growth was accompanied by the highest rate of job creation since the survey began in 2005, fuelled by robust domestic demand and a sharp rise in international orders. The sustained services growth adds to a series of economic indicators positioning India for a historic leap in global rankings. India has surpassed Japan to become the world's fourth-largest economy by nominal GDP and may surpass Germany by 2027, reflecting rising investor confidence and a resilient domestic market. May's services performance was underpinned by gains across customer-facing sectors like finance, business services, information technology, and real estate. New export orders saw their fastest rise in nearly 20 years, showcasing India's increasing integration with the global services economy. Companies reported improved demand conditions and confidence in future business prospects, prompting stronger hiring across the board. 'Activity in India's services sector remains resilient, with new business expanding at a sharp pace and firms hiring at the fastest rate on record," HSBC economist Maitreyi Das noted in the PMI report. India's broader macroeconomic environment is also helping drive growth. Morgan Stanley's global chief economist Seth Carpenter recently said India's outlook remains 'solid", supported by sustained capital formation, government infrastructure spending, and a structurally low inflation environment anchored by the Reserve Bank of India's policy stance. Business Standard reported that, adding to the momentum, the government has relaxed key provisions of the Special Economic Zones (SEZ) Act to encourage domestic production of semiconductors and electronics components—sectors deemed vital for technological self-sufficiency. The government's policy push has yielded tangible results at the grassroots level. India surpassed its procurement targets from Micro and Small Enterprises (MSEs) in FY24, fulfilling its mandate to source 25 per cent of public procurement from the sector—a key milestone for inclusive growth—the Economic Times reported. Simultaneously, foreign direct investment remains robust, with India attracting over $600 billion over the last decade, signalling long-term global confidence in its regulatory environment and economic direction. Capital markets are mirroring this optimism. The Financial Express reported that IPOs worth Rs 1.4 lakh crore are in the pipeline for FY25, spanning sectors from infrastructure to consumer tech—pointing to growing investor appetite and corporate confidence. With the services sector firing on all cylinders, supportive policies taking shape, and investor sentiment holding firm, India appears poised not only to meet but potentially exceed current growth projections. As the economy scales new heights, its success story is increasingly anchored in a services sector that continues to outperform, evolve, and employ at record levels—providing a solid foundation for India's next global leap. First Published: June 05, 2025, 13:09 IST
Yahoo
16-05-2025
- Science
- Yahoo
Could Kentucky be due for more earthquakes? Expert seismologist weighs in
KENTUCKY (FOX 56) — Due to the recent uptick in observed seismic activity, some Kentuckians wonder if more could be coming soon. Recently, United States Geological Survey (USGS) data showed a 2.8 magnitude earthquake hit central Kentucky around 3:41 a.m. on Sunday, May 11, originating between Nicholasville and Danville. This tremor comes on the heels of a 4.1 magnitude earthquake that USGS officials pinpointed near the Tennessee-North Carolina border. According to an interactive earthquake map and database, Kentucky has noticed a roughly 6% increase in seismic activity over the last 30 days. FOX 56 spoke with University of Kentucky seismologist Seth Carpenter regarding seismic activity in the Bluegrass. Tracking severe weather watches, warnings in Kentucky: Large hail, tornado risk ahead Could Kentucky be due for more earthquakes? Expert seismologist weighs in Kentuckians could see big jump in utility bills in 2026 Carpenter said the most recent earthquakes had no connection with the New Madrid seismic zone, despite the tendency of earthquakes to concentrate along the fault line. Earthquakes are often caused by a sudden slip along a fault, according to the USGS. Carpenter said these slips happen when enough stress builds up to overpower the fault's strength. Regarding the earthquake on Sunday in Garrard County, Carpenter said it was a rare event, but the magnitude is consistent with past earthquakes recorded there. Read more of the latest Kentucky news The cause of the recent earthquakes is not definitively known, according to Carpenter, since they came from depths of roughly 25-30 kilometers inside the Earth's crust. He noted that it was difficult to connect the activity at the fault line with future seismic activity. 'It's difficult to say conclusively whether the recent earthquakes foretell of future earthquakes. Nevertheless, it seems unlikely they suggest any increase in likelihood of future earthquakes since none of them has been determined to be part of a sequence,' Carpenter said. He encouraged anyone concerned about Kentucky earthquakes to download a booklet on earthquake preparedness. Drug overdoses see major decline: How Kentucky measures up UFO sightings in Kentucky: A look back on past 30 years List: 5 Big Lots stores in Kentucky reopening this week To monitor the UK earthquake network data, click here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CNBC
15-05-2025
- Business
- CNBC
Morgan Stanley's Seth Carpenter on his outlook for the economy
Seth Carpenter, Morgan Stanley Global chief economist, joins 'Closing Bell Overtime' to discuss his outlook for the economy, the state of the consumer, and more.
Axios
14-03-2025
- Business
- Axios
Trump's immigration factor
Volatile trade policy is getting all the media attention lately. But another risk to the growth outlook is also playing out — an end to the high immigration rates that were a feature of the U.S. economy in recent years. Why it matters: Most economic policymakers say immigration helped loosen the tightest labor market in decades and eased inflation. Whatever your views on the policy, plummeting border crossings — paired with White House deportation plans — mean economic adjustment ahead. It is a key element of President Trump's economic shock therapy, with uncertainty about what the mix of policies — lower immigration, higher tariffs and more — will ultimately mean for businesses and consumers. What they're saying:"For US economic growth, immigration policy deserves more attention," Seth Carpenter, chief global economist at Morgan Stanley, wrote in a recent note. "Immigration has been a fundamental part of the US growth story in the post-Covid phase," Carpenter wrote. A slowdown will affect growth, "boost inflation and present a thorny choice for the Fed." By the numbers: Morgan Stanley expects net immigration of about 1 million this year and 500,000 in 2026, both notably lower compared to their estimated 2.7 million in 2024. Signs of a crackdown have been enough to slow immigration flows at the U.S. southern border. In February, there were about 8,300 border apprehensions, Axios reported earlier this month — the fewest on record in data that goes back to 2000. Deportation threats of "millions and millions" of immigrants have yet to fully materialize: Deportations are, so far, on par with that of former President Biden's final weeks in office. The big picture: Some fear that the worker boost seen in 2022 and 2023 will play out in reverse. Morgan Stanley economists note that their estimate of 1 million in net immigration could trim the GDP level by as much as 0.6 percentage point this year and next. What to watch: Large-scale deportations would be a labor market supply shock that coincides with another tariff-related supply hit. The worst-case scenario is an inflation double whammy. The construction sector might be among the most at risk. It depends heavily on immigrant workers. It also depends heavily on supplies — lumber, copper and more — that are prime tariff targets. What they're saying:"The irony is that the tariffs' impacts on construction costs might just price some manufacturers out of their decision to expand or add plants in the U.S.," said Jeffrey Shoaf, CEO of the Associated General Contractors of America.
