The Services Purchasing Managers Index (PMI) registered a value of 53.8 in May, down from 54.3 in April.

The index suggests that growth will still be marginally higher when compared to the six months to March, when output flat-lined. A PMI value above 50 is indicative of expansion in the sector, while a value below 50 suggests contraction, so the latest data points to deceleration.

The PMI value for employment registered 50.1 suggesting slight growth in recruitment. The PMI for manufacturing fell to its lowest since September 2009,  when the economy was still in the midst of recession.