Economics
U.K. Services Surge to Fastest in More Than Six Years
This article is for subscribers only.
U.K. services growth accelerated more than economists forecast last month to the fastest pace in more than six years, adding to evidence Britain’s economic recovery is gathering momentum.
A gauge of activity rose to 60.2 from 56.9 in June, the highest since December 2006, Markit Economics and the Chartered Institute of Purchasing and Supply said today in London. Economists forecast 57.4, according to the median of 30 estimates in a Bloomberg News survey. Readings above 50 indicate expansion. A separate report showed euro-area services shrank less than initially estimated.