UK service sector slows to 11-month low

5 Sep 2017 02:51 PM

UK Services PMI index fell to 53.2 points in August from 53.8 points in the previous month, and it was slightly below expectations of 53.5 points, and it is the lowest since September 2016.
There has been a slowdown in demand growth with poor confidence and persistent uncertainty leading to a delay in any spending decision. Overall, business expectations were boosted to a 3-month high despite relatively weak confidence, fueled by further uncertainty about the political and economic uncertainties.
Also, the backlog has been rising at a faster pace since July 2015, and as a result of the increase in backlog, job creation accelerated for the third month in a row and was the strongest since the beginning of 2016.

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