There has been mixed news on the crucial election issue of the British economy on the eve of the vote.
Britain’s huge service sector unexpectedly picked up speed in April, a survey showed on Wednesday, countering other signs that the economy was slowing just before a national election on Thursday.
The Markit/CIPS services purchasing managers’ index climbed to an eight-month high of 59.5 in April from 58.9 in March and beating the median forecast for a fall to 58.5 in a Reuters poll.
However a leading think tank cut its forecast for Britain’s economic growth in 2015, but said strong consumer spending should keep the recovery on track.
The National Institute of Economic and Social Research (NIESR) cut its British economic growth forecast to 2.5 percent this year, from a previous forecast of 2.9 percent made in February. Last year, Britain’s economy grew by 2.8 percent.
NIESR also said none of Britain’s main political parties had satisfactorily addressed the country’s biggest ec
