Monday September 21, 2020

British service sector sends worrying signal

Growth in new business slowed in May, report says

3rd June, 2016
Figures signal weaker British economic growth Pic Getty

Activity in Britain's services sector remains “frustratingly weak” despite recovering last month from a three-year low, according to a report from research group Markit Economics.

Alongside continued weaknesses in manufacturing and construction, the latest data indicate the British economy may expand just 0.2 per cent this quarter, Markit said. That compares with 0.4 per cent growth in the first three months of the year and marks the weakest level since 2012.

The Purchasing Managers Index for...

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