News Tag: service sector
March 4, 2010
The Bank of England’s Monetary Policy Committee (MPC) is today expected to keep UK interest rates on hold at the historically low level of 0.5% for the 12th consecutive month.
In addition, the Bank is expected not to inject any more money into the economy through its quantitative easing (QE) scheme.
Last month, the Bank announced it was pausing its ...
BoE expected to keep interest rates on hold
by Kay Murchie
March 3, 2010
The UK’s closely-watched service sector recovered in February after experiencing a dip in January as a result of bad weather disrupting services, as well as the VAT rise.
The latest activity index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI showed a reading of 58.4 in February, up from 54.5 in January.
Any reading above 50 indicates growth and February‘s ...
UK service sector recovers after snowy January
by Kay Murchie
October 5, 2009
Hopes of an end to the recession have been heightened by September data from the Chartered Institute of Purchasing and Supply.
New figures indicate that the UK service sector has grown at its fastest pace in almost two years, with the Institute's Purchasing Managers’ Index (PMI) turning in a better than expected performance and increasing to 55.3, up from ...
UK service sector shows fastest growth in two years
by Gill Montia
December 3, 2008
Figures published by the Institute for Supply Management (ISM) have revealed that the US service sector hit the lowest level on record last month.
The index fell far more than expected to 37.3 in November from 44.4 the previous month and is the lowest level since the series began in the 1997.
The US service sector, which accounts for around 80% of ...
US service sector falls to record low
by Kay Murchie
November 5, 2008
The Bank of England is under severe pressure to cut interest rates this week after figures revealed that the service sector shrank in October.
The service sector, which makes for almost three quarters of output, fell for the sixth consecutive month and was at its lowest level since 1996, according to an index compiled by the Chartered Institute of Purchase ...
BoE under severe pressure for interest rate cut
by Kay Murchie
