Another Europe News

Healthy UK services sector raises recovery optimism – economy

Published

2 years ago

April 30, 2024

http://www.euronews.com/ Britain’s dominant services sector has recorded its strongest growth since last summer’s Olympics.

Surveys of businesses show that in April services – which account for around three-quarters of Britain’s economy – enjoyed their fourth consecutive monthly rise.

That adds to signs that the slow economic recovery may be gaining some traction

It is good news for the British government which is faced mounting criticism of its austerity programme.

Similar surveys earlier this week showed Britain’s manufacturing and construction sectors also performed better than expected last month.

The figures reinforced expectations the UK central bank, the Bank of England, will refrain from further stimulus next week, and possibly longer.

They should also help the government avoid criticism from the International Monetary Fund draws up its annual health check of Britain’s economy later this month.

*Grand figures for Ireland*

Ireland’s services sector expanded at its fastest rate in three months in April, aided by exports beyond the eurozone.

That is a boost for Irish growth prospects after weak manufacturing survey data. Ireland’s services sector accounts for 70 percent of GDP.

The NCB Purchasing Managers’ Index (PMI) of services sector activity rose to 55.2 from 52.3 in March, comfortably above the 50 line that separates growth from contraction.

In contrast to much of the eurozone, bailed-out Ireland’s economy has expanded for the last two years, but it contracted in the third quarter of 2012 and was flat in the fourth as weak external demand weighed on exports.

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Major wildfires continue as Spain’s burned area reaches 70,000 hectares this year

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“This is worse than any third world country,” Donald Trump used a primetime address to the nation on Thursday to once again raise doubts about the results of past elections, reviving a subject he’s long used to make unproven claims and deny his loss in the 2020 election.

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Published

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In today’s #EuropeTodayExplains, Jakub Janas investigates how much of the NATO bill is really footed by America, as pressure mounts on Europe to scale up its investments in the alliance. Watch his report for #EuropeToday here:

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