UK services sector returns to growth as new orders rise
London, United Kingdom. Britain’s services sector returned to growth in July as new orders increased, according to an S&P Global survey. Expectations for activity over the next 12 months reached their highest level since before the start of the Iran war in February.
Services PMI rises
The S&P Global UK Services Purchasing Managers’ Index rose to 52.1 in July from 48.8 in June. It was the sector’s first expansion since April and exceeded the earlier flash estimate of 51.8.
Composite index returns to expansion
The upward revision lifted the composite PMI, which includes the smaller manufacturing sector, to 52.2 from 49.3.
The reading moved above the 50-point threshold separating growth from contraction for the first time since April.
This news item was generated automatically by Cyprus Inform from publicly available materials. Report an error →
