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"Since the VAT cut last December we've had a run of surprisingly strong readings on the goods side of the inflation basket," he said, adding that the weaker pound had kept inflation higher than elsewhere.
Strong readings in new orders and production are expected to create momentum in the first quarter of 2011, said Norbert J. Ore, the chairman of the association's survey committee.
Strong readings in new orders and production are expected to create momentum into the first quarter of 2011, said Norbert J. Ore, the chairman of the association's survey committee.
Chris Williamson, of data provider Markit, which compiles the survey, said that together with strong readings from both manufacturing and construction, the services PMI was signalling faster GDP growth in the final three months of 2013 than the 0.8% rise recorded in the third quarter.
Chris Williamson, chief economist of data provider Markit, which compiles the survey, said taken together with similarly strong readings for activity in the much smaller construction and manufacturing sectors, this latest survey signals even stronger growth in GDP than the 0.7% recorded between April and June.
Then over in the euro zone, the pace of manufacturing activity reached a 40-month high for March, with the region's manufacturing survey coming in stronger than expected amid strong readings from the purchasing managers indexes of Switzerland, France and Germany.
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Mr. Golub highlighted stronger readings in surveys of manufacturing activity, and said he expects earnings to keep improving, even from high current levels.
That is utterly at odds with strong survey readings and the 1.8% rise in manufacturing employment over the past year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com