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LONDON (Reuters) – The UK services sector strengthened in April and growth in the economy in the first quarter has been revised upwards, according to official data released on Friday. the acceleration forecasts after the weak start of 2018 that allowed the central bank to maintain interest rates.
Services output, which accounts for four-fifths of the British economy, rose 0.3% in April in the monthly comparison. , the highest rate since November 2017.
Compared to April 2017, service output increased 1.6%, an acceleration from the first quarter, when it increased 1.2% annually , according to the National Bureau of Statistics
The pound rose against the dollar and the euro after the data, and the forward interest has extended the implied probability of rising interest rates in August at 60 percent, 50 percent. 9659002] And the UK economy as a whole rose 0.2 percent in the first quarter of 2018 over the previous three months, an unexpected upward revision on the initial estimate of 0.1 for hundred.
The statistics agency explained that "The obstacles to higher interest rates in August have declined as a result of this disclosure," said Investec Economist. Philip Shaw. "In terms of momentum of second-quarter growth, it seems better than before."
On an annual basis, GDP growth in the first quarter remained at 1.2 percent, lower since the second quarter of 2012, and in line with estimates from the previous agency and Reuters research
Copyright Thomson Reuters 2018
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