UK business downturn eases after inflation data, BoE pause

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

LONDON (Reuters) - British services companies suffered a less severe downturn in September than first feared, reflecting a surprise fall in inflation ...

LONDON - British services companies suffered a less severe downturn in September than first feared, reflecting a surprise fall in inflation and the Bank of England's decision to leave interest rates on hold, a business survey showed on Wednesday.

While marking an eight-month low, it was much better than a preliminary"flash" reading of 47.2 that shocked investors and may have swayed Bank of England officials, a slim majority of whom voted to leave interest rates on hold last month. Tim Moore, economics director at data company S&P Global Market Intelligence, said the services sector remained on a negative trajectory - but noted that some companies were becoming more optimistic about cooling price pressures.

"Worries about elevated borrowing costs and stretched household budgets were nonetheless cited by survey respondents."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines