British services activity inches up in July

British services activity inches up in July

In July, activity in the British service sector surged more than expected, putting an end to two months of dips and spurring optimism over the UK economy because the sector makes up nearly 80% of GDP, as industry data disclosed on Thursday.

As market research group IHS Markit states, the previous month seasonally adjusted IHS Markit/CIPS services purchasing managers’ index went up to 53.8 from June’s reading of 53.4.

Experts had hoped that the index would ascend to 53.6.

On the index, a reading above 50.0 stands for expansion in the industry. On the contrary, an outcome below 50.0 points to contraction.

The research group stressed that the reading appeared to be a moderate uptick from June’s four-month dip and also warned that optimism as for the business outlook was still subdued.

On the other hand, the report confessed that employment numbers tacked on at the fastest tempo since January 2016.

Meanwhile, in London FTSE 100 sank 0.33%.

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera