UK services: expansion continues but growth rate slows
29 August 2012
Activity in the UK services sector continued to expand in September, but its growth rate was the lowest in nine months, 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 55.0. While that is a slight drop on August’s figure of 55.2, it did signal continued robust expansion.
The input price index rose at its sharpest rate in 10 months to 61.2, as utility and labour costs increased and the high price of oil...