The UK economy rebounded at a faster-than-expected pace in October with a strong contribution from the services activity, though economists and observers said the monthly figures mask the underlying recession.
Later this week, the Bank of England is widely expected to shift the gear down on interest rate hikes. Markets have penciled in a 50 bps rate hike for Thursday, after the bank delivered a 75 bps increase in November, which was the biggest in 33 years.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.