Rate of the euro regained some lost ground earlier against the dollar, while returning to the opening level . Support Eurocurrency had weak U.S. data . As it became known , a preliminary index of business activity in the service sector fell to 52.7 in February from 56.7 in January. This shows that the increase in activity has slowed, but continues. Preliminary data based on approximately 85 % of total respondents. Values above 50 indicate growth in activity compared with the previous month , lower than 50 - reducing activity
We also learned that improving conditions for business from producers in the Dallas Fed region this month almost was not. The index of overall economic activity from the Dallas Fed declined from February to 0.3 against 3.8 in January. Index forecast companies dropped from 15.9 to 3.4 .
Values below 0 indicate contraction in activity , and above - its expansion. Despite the slowdown in total, sub-indices show that the improvement continues .
Pound is trading slightly higher against the dollar , which is associated with the comments and the Bank of England published data . Recall that the head of the Bank of England Governor Mark Carney said the new phase of policy intentions should give further assurance that officials will support the economic recovery . Carney said that the revised policy system further intentions reflects the need for more complex set of judgments than was necessary in the first stage , when the link was only on unemployment . Bank changed its approach after unemployment fell faster than expected officials to the 7 percent threshold for considering an increase in the interest rate.
As for the data , they showed that sentiment among UK service sector companies have improved to all-time high in the three months to February, while the sector recorded growth of the third quarter in a row . These are the results of a survey published by the Confederation of British Industry (CBI). The latest survey of the services sector of the CBI showed that confidence among service providers in the consumer sector , as well as the professional services sector grew at the fastest pace since the management of records about fifteen years ago . Optimistic attitude reflects a remarkable recovery in business volumes , which rose the most since 2005, which resulted in the first ever recorded growth of profitability since 2007.
Also forecast business volumes grew strongest pace in a decade , with the majority of the surveyed firms stated that they intend to raise the number of staff in the next quarter .
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