Belfast Telegraph

UK Website Of The Year

UK services sector rallies after wobble

By Staff Reporter

Published 06/10/2016

Output in Britain's services sector continued to recover last month from a shock contraction after the Brexit vote
Output in Britain's services sector continued to recover last month from a shock contraction after the Brexit vote

Output in Britain's powerhouse services sector, which includes everything from restaurants to estate agents, continued to recover last month from a shock contraction after the Brexit vote as new business expanded at its fastest pace since February.

The closely watched Markit/CIPS services purchasing managers' index (PMI) showed a reading of 52.6 in September, down from 52.9 in August but above economists' expectations of 52.

A reading above 50 indicates growth. The update comes after the industry, which accounts for around three-quarters of the UK economy, slumped in the first month after Britain voted to leave the European Union.

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Read More

From Belfast Telegraph