Friday, February 03, 2012
Service sector at 10-month high
Posted by David Smith at 09:40 AM
Category: Thoughts and responses

More good news for the economy with the purchasing managers' index for the service sector up from 54 in December to 56 in January, a 10-month high.

This is what Markit said:

"The UK service sector started 2012 in positive fashion with activity and new business both rising at marked and accelerated rates. Business confidence showed the largest one-month gain in the survey history, while employment was increased to the greatest degree in nearly four years.

"On the price front, input cost inflation eased to the lowest for 14 months while output charges were again little changed.

"January’s headline Business Activity Index – which is based on a single question asking respondents to report on the actual change in business activity at their companies compared to one month ago – improved to a 10-month peak of 56.0. That was a rise from 54.0 in December and represented a third consecutive monthly improvement in the index (the best run for over two years)."