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Strengthening services sector is giving economy hope

By Staff Reporter

Published 07/05/2015

Consumer services - such as bars, hotels and restaurants - strengthened in the past eight months
Consumer services - such as bars, hotels and restaurants - strengthened in the past eight months

The UK's dominant services sector grew at its fastest rate in eight months in April, lifting hopes of a bounce-back for the wider economy.

The sector posted a reading of 59.5 on the CIPS/Markit purchasing managers' index (PMI) survey, in which 50 separates growth from contraction.

It was the highest level since August and up from 58.9 in March.

Together with other industry surveys it pointed to the economy returning to form in the second quarter.

But despite the numbers - seen as a boost for coalition parties - there were "warning lights about the sustainability of growth" after survey data from manufacturing and construction were weaker.

Belfast Telegraph

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