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Good news on the economy—for now

Government responses have helped, but uncertainty remains

By Vicky Pryce  

The Grand Hotel in Brighton. Today's services PMI ©DAVE EVANS/NEWZULU/PA Images

Today’s data showing substantial improvement in the services sector is good news and suggests that, in the third quarter at least, the UK will avoid a recession. The Purchasing Managers’ Index (PMI) recovered from 47.4 in July to 52.9 in August, the biggest one-month gain in its 20-year history. It follows the sharp improvement in the manufacturing sector and a bounce back in consumer confidence, which dropped sharply after…

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