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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1 hour ago

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UK Prime Minister Theresa May is speaking to MP’s in the Parliament after the EU summit in Brussels.

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Latest news bulletin | September 9th, 2026 – Morning

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Catherine Ashton’s speech closing Iran nuclear talks in Geneva (recorded live feed)

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3 hours ago

September 9, 2026

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JUST IN: EU’s Ashton says world powers and Iran agreed that nuclear and sanctions experts will meet before November 7-8.

Iran has indicated a readiness to scale back its most sensitive nuclear activity in a clear signal that it is willing to compromise with the West to win relief from harsh economic sanctions, diplomats said on Wednesday.

But the details of Iran’s proposals, put forward during negotiations with six world powers in Geneva, have not been made public, and Western officials were cautious whether the Islamic state was willing to go far enough to nail down a deal.

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