Wednesday, March 05, 2008
Growth holding up
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

We now have the purchasing managers' surveys for both services and manufacturing for February, and they suggest that growth has held up reasonably well in the first quarter. The service sector purchasing managers' index rose from 52.5 to 54.0 and the manufacturing index, published a couple of days ago, showed a rise from 50.7 to 51.3. Both suggested inflationary pressures are more of an immediate worry than growth, which is why the Bank of England is generally expected to keep interest rates on hold this week.