mpc: 12 In the services sector, business surveys continued to point to stronger growth than the official
data. As the Committee had noted in its previous meeting, the size of that discrepancy had not been
historically large, but the degree of persistence of the discrepancy had been more unusual. One
possibility was that the statistical relationship between the survey balances and the official figures had
changed. This could be the case if, for example, there had been a change in the dispersion of growth
rates across service sector companies. Evidence to support that hypothesis was, however, limited.
Overall, the Committee placed some weight on both the official data and the business surveys, and
noted that the surveys continued to point to solid growth in the service sector in Q4.
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