Belfast Telegraph

UK services sector rallies after wobble

By Staff Reporter

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