UK Growth At Nine-Month High
A recent survey has found the growth of the UK hit a nine-month high in October, on account of rising demand and record-low unemployment rates.
The survey, Lloyd’s Purchasing Managers Index, observed accelerated growth across every region of the country.
The slowest pace was found in Scotland, but the region still saw an improvement from earlier in the year.
The survey saw this as the result of higher employment rates, with unemployment reaching its lowest level in 42 years.
Scott Barton from Lloyds warned that while businesses are hiring more employees than ever, business costs continue to rise, leading employers to charge higher prices on their goods and services. He claimed that as a result of inflation, consumer prices have risen in the last 12 months.
Nonetheless, economics believe that the economy will continue to improve, and predict price growth will climb later this year and into 2018.
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