Market News
UK economy readings underscore Bank of England's dilemma - REUTERS
Summary
- UK data and surveys send different signals about economy
- PMI points to job losses ahead
- But recruiters group reports pickup in job postings
- Labour market and inflation data show price pressures
- Bank of England has said it will be careful on rates
LONDON, Feb 21 (Reuters) - A flurry of often contradictory UK economic data and surveys this week has left the Bank of England none the wiser about whether Britain's economy is more at risk of a wave of job losses or a new period of persistently high inflation.
A closely watched survey of businesses - the Purchasing Managers' Index - suggested on Friday that firms this month cut staff at the fastest pace since the COVID pandemic, and almost as sharply as after the collapse of U.S. investment bank Lehman Brothers at the height of the global financial crisis in 2008.
