The UK service sector managed to show some recovery in April after it had previously stabilized at a 20-month low on bad but still well below the average for the past two years. This may be due to the pessimistic situation that dominates the companies due to the uncertainty caused by the Brexit.
The PMI of the sector, which accounts for 80% of GDP, recorded 52.8 points from the previous reading of 51.7, but lower than forecast at 53.5 point. After the data, the IHS Markit expects GDP to grow by 0.2% in the second quarter, after the economy grew 0.1% in the first quarter, the slowest pace in more than five years.
