Services growth-rate slows but remains “robust”
29 August 2012
Activity in the UK services sector continued to expand but at a weaker rate than previous months, according to the latest purchasing managers’ index (PMI) report.
The business activity index - a composite indicator of sector conditions from CIPS and NTC Research in which an index above 50 indicates growth - recorded a reading of 55.2 for August. And while the rate of expansion was not as high as in earlier months (July’s figure was 56.3) the report said growth remained “robust”.
The monthly report said gains in new...