Seeking Alpha

Torrid growth in U.K. services sector eases a little

  • U.K. services PMI dropped to 60 in November from 62.5 in October and missed expectations of 62.
  • Activity and new business continued to rise at "historically sharp rates," says Markit.
  • Service providers added extra staff, while backlogs rose steadily.
  • The PMI surveys for services, manufacturing and construction indicate that GDP is on track to grow more than 1% in Q4.
  • However, one note of caution is that inflation reached the highest rate since May 2011 as service providers reacted to increasing costs.
  • The FTSE 100 is +0.1% and the pound is -0.25% at $1.635. (PR)
  • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
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