Monday, October 05, 2009
Services lead the recovery
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

The purchasing managers' index for the services sector rose from 54.1 in August to 55.3 in September, its highest for two years and beating market expectations. While the usual health warning applies about the relationship between the surveys and official data, this clearly suggests a return to growth for the sector, and for the economy as a whole.

Also out today, the CBI reported the first growth in financial services volumes for two years. Its quarterly survey is here.