Services Growth Shoots Up in January

Services Growth Shoots Up in January

Services Growth Shoots Up in January

The index was at 48.5 in the month of November, therefore, separating growth from contraction for the second month consecutively.

Aashna Dodhia, economist at IHS Markit and author of the report, said despite continuation of "recovery" in demand and output in the service sector, its overall performance remained weaker than the long-run growth trend.

January's upturn in the services sector was mainly bolstered by greater client demand, with new business growing at its quickest pace in 32 months.

Growth in the United States services sector slowed a little in January, according to final data released on Monday.

The poor reading from the service sector follows equally disappointing results at the end of last week from the manufacturing and construction indices and suggests overall that the United Kingdom economy entered 2018 on a weak footing.

Unsettled Mahrez to miss 2nd straight game for Leicester
Andy King will presumably be there, but he's not available to play, but their other new signing Andre Ayew could feature. They will however need to rectify their away form if they are to overcome the reigning Premier League champions.

The services sector - which includes everything from banking to waiting tables - drew a reading of 53 in the month, down from the previous 54.2 in December.

Indian service providers addressed new business inflows and rising backlogs by expanding workforces for the fifth consecutive month in January.

Last month's readings suggest the economy is running at a quarterly growth rate of just under 0.3 percent.

The composite PMI in the Eurozone - which combines all the major sector's PMI surveys -rose to 58.8 in January from December, above the consensus and initial estimate, 58.6.

The inflation in input prices in the services industry rose by its steepest level since April 2012 in January, the survey showed.

Celebrity Big Brother 2018 final voting percentages REVEALED
Speaking shortly after her victory, Courtney Act said that she was amazed by the public support and validation of her beliefs . In recent weeks, Ann has been slammed by former housemates Rachel Johnson and Andrew Brady over her strong views.

Hiring continued at a robust pace, suggesting a positive pipeline of new projects and positive output expectations, Markit said.

He said: "The data should prompt investors to reassess their view that the chance of the Bank raising interest rates again as soon as May is as high as 50%".

Despite the slowdown, business confidence is at its strongest since last March, with firms still optimistic that business activity will be higher over the course of 2018.

That had sparked a shift in expectations about United Kingdom interest rates, with investors raising bets on a hike as early as May.

Liberum Capital Reaffirms "Buy" Rating for Assura PLC (LON:AGR)
Moreover, Ksa Capital Management Llc has 1.8% invested in the company for 25,000 shares. 71,600 are owned by Payden & Rygel. Cibc Mkts holds 0% or 5,327 shares. 7,580 shares valued at $906,644 were sold by Kulovaara Harri U on Monday, August 14.

Related news