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Strong Services Data Points To Economic Green Shoots

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http://uk.reuters.com/article/2013/06/05/uk-servicesector-pmi-idUKBRE9540BC20130605

Britain's key service sector grew much faster than expected in May, underpinned by the sharpest rate of new business growth in more than three years, indicating that an economic recovery is gaining traction.

The Purchasing Managers' Index (PMI) for services, produced by Markit and the Chartered Institute of Purchasing & Supply and published on Wednesday, rose to 54.9 in May from 52.9 in April.

That was the strongest reading since March 2012, and easily beat the top forecast of 53.6 in a Reuters poll of 30 economists. The median forecast was 53.0.

Those green shoots in sectors that produce nothing. Essential to any recovery.

Good to see "green shoots" back again...

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http://uk.reuters.com/article/2013/06/05/uk-servicesector-pmi-idUKBRE9540BC20130605

Those green shoots in sectors that produce nothing. Essential to any recovery.

Good to see "green shoots" back again...

So I get a project rolling out infrastructure for a 100% Danish bank. High value jobs needed. We pay PAYE,VAT,Corp tax on our profits and of course every employee pays tax on items they buy daily as well as their PAYE.

So we pay real money to the government which we have effectively earned as an export after all it started as Danish Krona.

Give the services/ manufacturing b****** a rest would you.

You right we haven't produced anything apart from revenue for this country. Not all services businesses are Banksters.

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So I get a project rolling out infrastructure for a 100% Danish bank. High value jobs needed. We pay PAYE,VAT,Corp tax on our profits and of course every employee pays tax on items they buy daily as well as their PAYE.

So we pay real money to the government which we have effectively earned as an export after all it started as Danish Krona.

Give the services/ manufacturing b****** a rest would you.

You right we haven't produced anything apart from revenue for this country. Not all services businesses are Banksters.

Fair point.

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prolly growth in the Hotel and Hospitality sectors....bedmakers, waiters and washeruppers.

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http://uk.reuters.com/article/2013/06/05/uk-servicesector-pmi-idUKBRE9540BC20130605

Those green shoots in sectors that produce nothing. Essential to any recovery.

Good to see "green shoots" back again...

Produce nothing? Without service industry you won't have food on your table, clothes to wear, groceries to buy, educate your children, or even communicating with others. Oh and no one news, no Internet, no HPC forum so you can moan about the service industry.

I'd rather eat and browse the Web than owning two cars and a boat.

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So I get a project rolling out infrastructure for a 100% Danish bank. High value jobs needed. We pay PAYE,VAT,Corp tax on our profits and of course every employee pays tax on items they buy daily as well as their PAYE.

So we pay real money to the government which we have effectively earned as an export after all it started as Danish Krona.

Give the services/ manufacturing b****** a rest would you.

You right we haven't produced anything apart from revenue for this country. Not all services businesses are Banksters.

So that would allow them to get involved in the growth sector that is the UK BTL market? :ph34r:

Perhaps the infrastructure will allow them to bid up essentials like food to increase profit?

Goldman bankers get rich betting on food prices as millions starve

Everything is rigged

And yet you quote a anecdote about serving bankers?

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Either that or the £750bn of UK sovereign debt that's been borrowed and spent in the intervening period.

public-debt-1974-2014.jpg

We just need to borrow more, to keep the recovery going

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The service sector is the problem...not the solution.

Nope.

Nothing wrong with a service sector economy, most 1st world economies have over 70% of their workforce involved in the service sector.

The financial system is the problem.

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I think the main problem economically is that not that services are wrong, it is just that to have a competitively strong, sustainable service sector it needs to be wrapped around a kernel of production. Else it is the equivalent of everyone taking in their neighbour's washing.

If you are extremely lucky, you may be able to use someone else's manufacturng kernel and any surpluses they earn and go on to invest to feed your service sector. However, competitively, that is an EXTREMELY risky strategy for a country, as he who has the kernel can take away the service wrapping.

As an example, the profits from car manufacture are largely the services that go with it - from finance to insurances and of course, maintenance. But if you don't have the car, you do lack a competitive edge.

If the Chinese and the Indians want to buy our services that is fine by me. We can process their company's accounts, provide investment advice and safeguard their wealth. We are manufacturing ideas, a process which is far more profitable than a U-bend or a car.

We simply do not need huge amounts of the population's time invested in manufacturing consumer goods. The service industry is safer, the skills of the disabled can be more easily accommodated and it offers a broader variety of careers.

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Nope.

Nothing wrong with a service sector economy, most 1st world economies have over 70% of their workforce involved in the service sector.

The financial system is the problem.

yeah.. and how are those first world western economies doing exactly?

i rest my case.

Edited by TheCountOfNowhere

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yeah.. and how are those first world western economies doing exactly?

i rest my case.

Drowning in debt and on the verge of collapse?

With unsustainable house prices?

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  • 239 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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