Services activity in the UK economy grew at the slowest pace in more than a year and a half in March, and the impact of weak consumer demand on UK services led the services PMI to fall worse than expected.
The index fell to 51.7 points in March against expectations 53.9 points, while the February reading was 54.5 points. The March reading was the slowest since the Brexit vote in June 2016. The UK service sector accounts for about 80% of GDP.
The growth of new orders slowed at a slower pace in 20 months, affected by snow, inflation and the uncertainty associated with EU exit negotiations.
