Hot on the heels of a week of upbeat data for the U.K. economy, a new report shows business conditions in the country rose for a sixth consecutive month in July to a high not seen since May 2011.
The BDO report on business prospects, released on Monday and calculated by taking a weighted average of the results of the U.K.’s main publicly available business surveys, shows that the economy is gathering strength across the board.
“These data indicate that the U.K.’s recovery is gathering speed and that the economy is likely to accelerate further in the third quarter of 2013,” the report said.
The manufacturing sub-index rose to 98.3 in July, a significant increase on June’s reading of 95.7.
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.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015