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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.
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.
'Jackpotting' scheme at ATMs now happening in US
The compromised ATMs can dispense up to 40 bills every 23 seconds- tens of thousands of dollars from a single ATM. Over the past few years, jackpotting has been a rising threat across the globe, particularly in Europe and Asia.
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.
Day, Noren need another day to decide victor at Torrey
Noren found the water with his second shot of the morning while Day placed his third inches from the cup to seal their fates. Palmer was eliminated on the first playoff hole, but four more holes after that was not enough to separate Day and Noren.
Three Leicester City players who could leave on Deadline Day
It is understood that the Foxes were only prepared to do business if City could put together a deal worth around £95 million. Leicester are said be considering the offer, but the clock is ticking before the transfer window slams shut at 11pm.
Former UFC star Ronda Rousey joins WWE
After making guest appearances at WWE shows including Wrestlemania 31, Rousey is now a full-fledged member of its roster . She wore a "Hot Ronda" shirt in the same style as Piper's shirts to the ring Sunday at the Royal Rumble .
Mostly rain in store for Super Bowl Sunday
Breezy, with a south wind 11 to 18 miles per hour , with gusts as high as 24 miles per hour . Tonight there is a 30 percent chance of scattered snow showers mainly before 9 p.m.