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UK PMI Services Rises Unexpectedly Easing Double Dip Fears
Written by article default Tuesday, 05 October 2010 09:30
Markit Economics reported this morning in conjunction with the Chartered Institute of Purchasing and Supply that a UK index of services growth rose unexpectedly in September. Economists had forecast a drop to 51.0 from September’s 51.3 reading. The unexpected rise lifts the index further away from the growth/contraction threshold at 50, suggesting the economy is stabilizing and confirming what many think, that a UK double-dip looks unlikely.Click here to learn more about DailyFX.