Buoyant services firms dent need for money-printing
Friday 03 May 2013
Another dose of money-printing from the Bank of England looked off the agenda today after Britain’s powerhouse services firms produced their strongest growth since April last year.
The sector accounts for more than three-quarters of the economy, ranging from IT and accountancy to hotels and restaurants. The Chartered Institute of Purchasing & Supply’s closely watched activity index, where a score over 50 indicates growth, improved to 52.9 in April from March’s 52.4.
Services firms were bolstered by the strongest rise in new work since last May and firms also took on more staff. It comes after similar positive signs from the construction and manufacturing sectors during April, as well as the UK avoiding a triple-dip recession in the first quarter of 2013.
Chris Williamson, chief economist at survey compilers Markit, said: “A broad-based improvement is becoming evident in the UK economy, greatly reducing the likelihood of the Bank of England seeing any need to increase its asset purchases in the immediate future.”
Cips chief executive David Noble added: “If steady growth can be maintained, the outlook for the sector may well brighten still further.”
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 Prince Harry leaving the armed forced to pursue conservation projects in Africa
- 4 PornHub turns masturbation into energy in bid to save the planet
- 5 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
Leonard Nimoy dead: Star Trek Spock actor dies after suffering lung disease
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin, says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...