European markets opened slightly higher on Thursday as traders digest the minutes of the last U.S. Federal Reserve meeting.
U.K. economic output continued to rise in May, according to the closely-watched Purchasing Managers' Index from S & P Global, but missed economists' forecasts. The pace of growth slowed as a rebound in manufacturing failed to overcome weakness in services. The composite output figure produced by the survey was 52.8, down from 54.1 in April and against an estimate of 53.9, according to a Reuters poll. The 50 mark separates growth from contraction.
Business activity in the country's dominant services industry was at a six-month low, as providers saw the weakest cost pressures for more than three years. The latter point may provide 'some comfort' for the Bank of England after official statistics on services inflation came in hotter than expected on Wednesday, Andrew Wishart, senior U.K. economist at Capital Economics, said.
STOXX 600 Prices United States Voting Government And Politics Earnings National Grid PLC NVIDIA Corp Gerresheimer AG Gerresheimer AG Qinetiq Group PLC FTSE 100 Business News
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal debt, Federal Reserve and inflation: Parsing their impacts.Understanding the linkages between them is important for sorting out where we have been, where we are, and where we are going.
Read more »
Strong to severe storms possible Thursday and Thursday nightMontgomery, Alabama
Read more »
Federal Reserve meeting preview: The stock market expects the worstUS stocks are a sea of red on Tuesday as a mixture of fundamental data and jitters ahead of the Fed meeting knock risk sentiment.
Read more »
Federal Reserve minutes: Policymakers saw a longer path to rate cutsAfter several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high.
Read more »
Federal Reserve minutes: Policymakers saw a longer path to rate cutsAfter several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high.
Read more »
Federal Reserve minutes indicate worries over lack of progress on inflationThe Federal Reserve on Wednesday released minutes from its April 30-May 1 policy meeting.
Read more »