Economics
U.K. Services Slowdown Takes Shine Off Economic Optimism
- PMI index drops to 53, below the 54.1 forecast by economists
- Data casts doubt on any imminent BOE rate hike: IHS Markit
BNP's Saywell Sees Too Much Optimism in Pound
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Britain’s services growth weakened more than expected at the start of the year, casting a cloud over the economy following some recent positive figures.
IHS Markit’s Purchasing Managers Index fell to 53 in January from 54.2 in December. That’s the lowest since September 2016 and well below the 54.1 economists had forecast.