Steady growth continues in UK services sector

Britain’s services sector kept up its steady growth in September but uncertainty about the economy remained high six months ahead of Brexit, a business survey showed on Wednesday.

The IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) slipped to 53.9 from 54.3 in August, broadly in line with the median forecast of a Reuters poll of economists that had pointed to a reading of 54.0.

The survey suggested Britain’s economy grew at a quarterly rate of just under 0.4 percent during over the July-September period, data company IHS Markit said — its average growth rate since the Brexit referendum of June 2016.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.