Services firms make strong start to 2004_2

Services companies in the UK made a far better start to the year in 2004 than in the previous year, according to the latest PMI figures.

The business activity index, produced by CIPS and NTC Research, rose to 59.8 in January, well above the 50 figure that indicates no change on the previous month. This time last year, concerns about the potential war on Iraq were dampening activity.

The rise in activity was the sharpest since June 1997, as surging business confidence underpinned rising activity....

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