Britain’s economy picked up some steam in April after slowing in early 2017, a closely-watched survey suggested on Thursday, welcome news for Prime Minister Theresa May ahead of a national election in just over a month’s time.
But separate figures from the Bank of England showed caution on the part of house-buyers in March, adding to signs of a slowdown in the housing market as rising inflation squeezes consumers.
The Markit/CIPS Purchasing Managers’ Index (PMI) of Britain’s giant services industry unexpectedly rose to a four-month high of 55.8 in April, above all the forecasts in a Reuters poll of economists.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.