Eurozone Business Growth Exceeding UK Peers

Businesses across the euro zone started the second half with robust growth, outpacing British counterparts which are struggling to regain momentum as consumers keep their hands in their pockets, surveys showed.

Signalling the bloc’s positive readings could continue into August, new orders rose, backlogs of work were built up and firms increased headcount. But British services firms’ expectations for the year ahead were among the weakest since late 2012.

“We are expecting growth to be a little stronger in the second half than in the first in the UK, whereas in the euro zone we are expecting it to be a little weaker,” said Ben May at Oxford Economics.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.