UK interest rates increase expected after services sector activity accelerates
Purchasing manager’s index at eight-month high, bolstered by spending on AI as firms regain momentum since start of Iran war The Bank of England is expected to raise interest rates on Thursday after a closely watched…
Source: The Guardian ·
Purchasing manager’s index at eight-month high, bolstered by spending on AI as firms regain momentum since start of Iran war The Bank of England is expected to raise interest rates on Thursday after a closely watched survey showed growth across the UK’s services sector leapt last month to an eight-month high, bolstered by spending on artificial intelligence. S&P Global’s survey of the services sector in October showed businesses regained much of the momentum they lost after the start of the Iran war, but also felt the impact of a renewed spurt of input price inflation, which accelerated to a five-month high.