British companies are enjoying their best month in more than a year, a survey sh...
LONDON - British companies are enjoying their best month in more than a year, a survey showed on Friday, the strongest evidence yet of a post-election boost to the economy that could deter the Bank of England from cutting interest rates next week.
Britain’s performance bettered the euro zone’s for the first time since December 2018, as the PMI suggested the world’s fifth-largest economy looked on track to grow around 0.2% in quarterly terms after it slowed to a crawl late last year. The composite PMI, which combines manufacturing and services indexes, rose to 52.4 from 49.3, the highest reading since September 2018 and easily beating the 50.6 consensus forecast in a Reuters poll of economists.
“It seems likely that the rise in the PMI kills off the prospect of an imminent rate cut by the Bank of England, with policymakers taking a wait-and-see approach as they assess the performance of the economy in the post-Brexit environment,” IHS Markit chief business economist Chris Williamson said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
British taxes are a matter for us, not United States, says UK trade ministerBritain's tax policy is a matter for the British government, not the United...
Read more »
Euro zone economy remains weak but green shoots emerging: PMIsEuro zone business activity remained lacklustre at the start of the year, a surv...
Read more »
Australia bushfires contributing to big rise in global CO2 levels - UK MetWhile human-caused greenhouse gas emissions are responsible for the bulk of the increase in CO2 levels, Australia's bushfires have made the problem measurably worse, underscoring the impact of the catastrophe on the global climate system.
Read more »
Brexit deal officially becomes UK lawThe bill implementing Britain's exit deal with the European Union officiall...
Read more »
Europe's $8 billion food delivery deal delayed as UK launches competition probeTakeaway.com said the U.K. competition regulator has 'reconsidered its position' on its planned takeover of Just Eat.
Read more »
U.S. government won’t extradite wife of diplomat who killed U.K. man in crashThe State Department spokesperson said that extraditing Anne Sacoolas, who was covered by diplomatic immunity, would set a dangerous precedent.
Read more »