- Prior 60.3
- New business 63.4 vs 60.6. Highest since series began in 1996
- Output index 61.5 vs 60.2 prior Highest since 1998
Another corker from services. I’ll haver the details in a minute or so.
Cable breaks into 1.6000.
Wages rise as well as fuel and utility bills, which will add to the inflation picture. Employment index highest for over 16 years.
“In conjunction with manufacturing and
construction, the services sector hit a record high in
October in new business growth and the best rise in
activity since May 1997, rounding off a sparkling
start to Q4 for the UK economy. Confidence is high
that this run of growth can be maintained
throughout the final quarter, underpinned by the
stable economic climate and improvements in the
housing market.
“Added to the sharp rise of volume in new business,
backlogs of work rose at the strongest rate since
May 1997. With capacity being tested, firms have
sought to keep increasing their staff numbers, with
employment levels rising for a tenth consecutive
month and also at the sharpest rate since the
spring of 1997.”
Said David Noble at CIPS.
UK services PMI 04 11 2013
