“U.K. services unexpectedly grew at the fastest pace in four months in January, indicating the economy may avoid an unprecedented triple-dip recession.
A gauge of activity surged to 51.5, the highest since September, from 48.9 in December, Markit Economics and the Chartered Institute of Purchasing and Supply said in London today. Economists had forecast an increase to 49.5, according to the median of 33 estimates in a Bloomberg News survey. A reading above 50 indicates expansion. Another report showed euro-area services shrank less than initially estimated in January….”
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