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Welcome rebound for services sector
The Bank of England is expected to hold back from unleashing additional emergency support for the economy this week
The powerhouse services sector saw a "welcome rebound" last month, according to a closely-watched survey, helped by new contract wins, marketing and better weather.
The Markit/CIPS purchasing managers index (PMI) for services activity, in which a reading above 50 represents growth, came in at 53.7 in August, up from 51.0 the previous month, its highest reading since March.
The survey, released early after it was accidentally published, follows a disappointing construction report and improved data for the manufacturing sector.
Chris Williamson, chief economist at survey compiler Markit, said it will add to hopes that the economy will pull out of recession following a 0.5% contraction seen in the second quarter.
The figure will also probably reinforce the view that the Bank of England is set to hold back from unleashing additional emergency support for the economy later this week.
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