Service sector growth slips as Brexit, hot weather and football disrupt business BelfastTelegraph.co.uk Activity in Britain’s powerhouse services sector slipped to a three-month low in July, as Brexit uncertainty, hot weather and the football World Cup hit business. https://www.belfasttelegraph.co.uk/news/uk/service-sector-growth-slips-as-brexit-hot-weather-and-football-disrupt-business-37181250.html https://www.belfasttelegraph.co.uk/news/uk/article37181251.ece/8759e/AUTOCROP/h342/bpanews_b6ef0186-3951-4194-abd3-4b815cdd9661_1 Email Activity in Britain’s powerhouse services sector slipped to a three-month low in July, as Brexit uncertainty, hot weather and the football World Cup hit business. The closely-watched Markit/CIPS services purchasing managers’ index (PMI) showed a reading of 53.5 in July, down from 55.1 in June. It missed economists’ expectations for a reading of 54.7 and marked the slowest rise in business activity since April. A reading above 50 indicates growth. The data was framed as a “disappointing start to the third quarter” for the UK services sector, with business activity and new work rising at weaker rates than a month earlier. While some respondents said the unusually warm summer boosted sales – particularly for those in the tourism industry – others said the hot weather and World Cup tournament were partly to blame for a drop-off in business. Tim Moore, an associate director at IHS Markit, which compiles the survey, said: “The service sector moved back into the slow lane in July… Read full this story
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