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04 Feb 2015

UK Services Activity Remains Robust

Prospects of a revival in domestic economic growth during the first quarter of 2015 received a boost after today’s data showed a better than expected expansion in Britain’s services sector. With encouraging signals emerging from the UK private sector at the start of 2015, it remains to be seen if the British economy maintains this momentum during the course of the year. Fresh developments in Greece yesterday helped calm nerves and led the common currency higher against its peers, as the newly elected government seemed to have softened its aggressive stance on the bailout agreement renegotiations with its creditors. For the week ahead, market focus shifts to the critical labour market releases from the US.