European stocks slightly higher as investors assess UK inflation and euro zone data

U.K. economic output continued to rise in May, according to the closely-watched Purchasing Managers' Index from S & P Global, but missed economists' forecasts. The pace of growth slowed as a rebound in manufacturing failed to overcome weakness in services. The composite output figure produced by the survey was 52.8, down from 54.1 in April and against an estimate of 53.9, according to a Reuters poll. The 50 mark separates growth from contraction.

Business activity in the country's dominant services industry was at a six-month low, as providers saw the weakest cost pressures for more than three years. The latter point may provide 'some comfort' for the Bank of England after official statistics on services inflation came in hotter than expected on Wednesday, Andrew Wishart, senior U.K. economist at Capital Economics, said.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Federal Reserve meeting preview: The stock market expects the worstUS stocks are a sea of red on Tuesday as a mixture of fundamental data and jitters ahead of the Fed meeting knock risk sentiment.
Источник: FXStreetNews - 🏆 14. / 72 Прочитайте больше »