United Kingdom

Details

  • Industry: Business Services
  • Type: Press release
  • Date: 05/08/2014

Strong service sector adds pressure on the Bank of England  

 

Yael Selfin, Economics Director at KPMG comments on the latest Markit/CIPS UK Services PMI data. She said:

 

“Latest PMI figures for services point at continued strong performance in Q3. However, with employment needs rising and productivity still subdued inflationary pressures could start mounting. So far higher wage demands have coincided with relatively weak prices, but further falls in Sterling would put added pressure on the MPC to raise rates earlier next year.”

 

ENDS

 

Media enquiries:

 

Ann Burton, KPMG Press Office

020 7311 6497(t), 07467 339719 (m) or ann.burton@kpmg.co.uk

 

KPMG Press Office: 020 7694 8773

 

About KPMG

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

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