Are These The First Green Shoots Of Recovery
Thursday, 15. August 2013
I have to say that my enquiry levels are up a little at a time when I normally expect them to be dropping off as we find ourselves in the midst of the holiday period. I must have had a million ‘out of office’ bouncebacks following deal of the week last week so it isn’t the fact that many aren’t taking holidays so maybe it is that shard of light we’ve all been waiting for, moving us up from a glimmer of light.
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OK I lied about the number of bouncebacks, maybe a million is a bit of an over estimate but the point is the same. I then read that July saw the fastest growth in the service sector since late 2006.
Markit/CIPS Purchasing Managers’ index for the UK Service Sector climbed to its highest since December 2006. Underlying demand was stronger with market conditions improving both home and abroad.
They pointed to good weather and a pick up in the housing market as reasons why the upward trend continued. New business growth lead to an increase in backlogs with the highest backlog of work reported since February 2000.
July’s survey marked the 7th month of growth and with payroll numbers increasing also the panellists suggested there are plenty of reasons to start feeling a little more optimistic about the future as businesses start to make longer term plans. Hear hear to that one!
Related articles
- Growth of services sector bodes well for economy (thetimes.co.uk)