New business drives rapid services expansion
28 August 2012
Business was up for a quarter of all UK private-sector services companies in September, according to the latest PMI report, as all three sectors of the economy grew for the third successive month.
The purchasing managers' index – a composite indicator of business conditions compiled by CIPS and NTC Research - put the business activity index at 58.7, up from 57 in August, and the highest figure since August 2000.
The increase reflected another strong rise in new business (58.6), the biggest climb since August 1999. More than 30 per cent said new orders...