Services sector reaches three-month high
29 August 2012
Improved economic conditions, new business clients and new products were among the factors that helped boost activity in the UK services sector to a three month high in October, according to the latest purchasing manager’s index (PMI) report.
The overall CIPS/Royal Bank of Scotland PMI – a composite indicator in which an index above 50 indicates growth – registered 56.1.
The level is broadly in line with the long-run series average, but the figure compared favourably to September’s rate of 55.0.
Service providers credited improved economic conditions, which led to fresh contract wins from...