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British economy slows down sharply in January
06 February 2018, 01:43 | Vera Richards
A new business sub-index that tracks overall demand jumped to 51.7 from 50.0 in December
The Markit/Nikkei Japan Services Purchasing Managers Index (PMI) rose to 51.9 on a seasonally adjusted basis, from 51.1 in December. Any reading above 50 indicates expansion in the sector.
Indian service providers addressed new business inflows and rising backlogs by expanding workforces for the fifth month running in January. The data comes just ahead of the meeting of the Monetary Policy Committee, which will take a call on interest rates on February 7.
The approach of the US ISM non-manufacturing PMI for January is keeping demand for the US dollar weak today, despite solid forecasts from economists, allowing the pound to hold its opening levels. Most importantly, growth of new orders jumped higher in both sectors in January, registering the largest upturn in new work since last August and one of the biggest gains seen over the past three years.
With a PMI of 50.5 in January, he believes that the economy will sustain a 5.5% growth rate in 1H18 from an expected gross domestic product growth of 5.7% in the fourth quarter of 2017.
The survey showed companies raised their prices in January, given 'strong upward pressure on cost burdens, ' particularly around insurance, fuel, transport, and food.
How to watch rare 'Super Blue Blood Moon' in WA
Murray said the blood moon effect comes from the sunlight streaming from the northern atmosphere giving the moon a red colouring. Everyone in the USA will be able to see at least some portion of the eclipse , with the best views in Western states.
Companies also continued to hire new staff - with the pace of job creation at a four month high.
"Indeed, services firms remained optimistic that business activity will be higher over the course of the year, with business confidence the strongest since last March", the report said.
That had sparked a shift in expectations about United Kingdom interest rates, with investors raising bets on a hike as early as May.
That, coupled with the government's plan to increase spending for rural areas and support farmers in its federal budget, could push up inflation and prompt the central bank to raise interest rates sooner-than-expected.
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Budget 2018-19: Jaitley has tough task ahead
There will also be a special focus on the upliftment of suburban trains in Mumbai and Bengaluru. The estimates of revenue foregone due to this measure is Rs 7,000 crore in 2018-19.
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Niti Aayog CEO Amitabh Kant said the challenge is not resources for the scheme but challenge is its implementation. Nadda did not elaborate on the modalities of how the government proposes to go about implementing the scheme.
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Even though the findings are based on only a few female polar bears, the result will be same for the polar bears of other areas. While four bears put on weight, five bears lost up to 10 per cent of their body weight - between 18 and 20 kg - in 10 days.