U.K. services growth maintained its pace of expansion in September, capping the best quarter for the industry in 16 years with an increase in confidence and hiring.
U.K. unemployment data this week may strengthen Bank of England Governor Mark Carney’s argument that interest rates must remain at a record low for three more years to help the economy recover.
The U.K. economy probably narrowly avoided falling into an unprecedented triple-dip recession in the first quarter, economists said.
Paul McCairn says the pound’s appreciation to a more than 3 1/2-year high against the euro is cutting profit at the machinery manufacturer his father set up near Birmingham, England, in 1984.
U.K. economic growth accelerated in the second quarter as all main industries showed expansion for the first time in three years, indicating Britain’s recovery is gaining traction.
U.K. services growth accelerated more than economists forecast in August, suggesting the economy may be recovering from a slump and adding to the case for the Bank of England to refrain from expanding stimulus tomorrow.
Bank of England Governor Mark Carney failed to unite policy makers on implementing forward guidance as they split on whether the plan took a strong-enough stance against inflation.
U.K. inflation forecasts for this year were raised by economists, highlighting the quandary policy makers face as they balance sustaining a recovery with the need to foster price stability.
U.K. services unexpectedly accelerated last month as demand strengthened, indicating the economy may stave off a recession this quarter.
U.K. inflation accelerated more than economists forecast in May as a record jump in air fares for the month helped extend its persistence above the Bank of England’s 2 percent target.
"The surveys suggest that the fourth quarter is starting on a strong note too."
- Vicky Redwood on Oct 03, 2013