Partner Article

UK service sector growth slows

Service sector growth slowed last month to an eight month low, according to a survey by Markit/Cips purchasing managers’ index (PMI).

PMI for the service sector fell to 51.3, down from 53.3. in May. Any reading above 50 is an indication of growth.

The slowdown was attributed to extra holidays for the Diamond Jubilee alongside weak demand.

The weak figures are now likely to encourage the Bank of England to expand its quantitative easing programme on Thursday.

There has been much speculation that the Bank will expand its quantitative easing programme by a further £50 billion, following the latest monetary policy committee meeting.

This was posted in Bdaily's Members' News section by Ruth Mitchell .