Samuel Tombs of Capital Economics: The domestic economy clearly continued to boom in July, said Chris Williamson, chief economist at Markit. Samuel Tombs of Capital Economics said the survey data provides reassurance that the recovery is not losing pace , according to The Independent. However, the survey also suggested that output prices barely rose in the month, which suggests inflationary pressure is not building and The Markit/CIPs Purchasing Managers Index for services climbed to 59.1, up from 57.7 previously, with any reading above 50 indicating growth. The strong reading, higher than analysts expectations, pushed sterling up a third of a cent against the dollar to 1.6887 as traders expectations of an early rate rise from the Bank of England strengthened.
(news.financializer.com). As
reported in the news.
Tagged under chief economist, Chris Williamson topics.