‘Brexit boom’ has UK services sector soaring

‘Brexit boom’ has UK services sector soaring
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[Ed. – End of world as we know it rescheduled.]

Britain’s economy has continued to boom in the wake of the vote to leave the European Union (EU), with the crucial service sector seeing the biggest ever monthly rise in activity in August. …

Services output rebounded to a far higher than expected 52.9 in August, from 47.4 in July, showed the data – a number above 50 means the sector is growing.

At 5.5 points, the month-on-month gain is the largest increase ever seen in the survey’s 20-year history.

The forward-looking business expectations index also recovered most of the ground lost in the aftermath of the referendum result. …

The pound surged off the back of the data by 0.6 per cent against the US dollar and 0.5 per cent against the euro to sit at 1.33 and 1.19 respectively.

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