FOREX TradingCharts.com

Financial News: UK Service Sector Growth Near 1-Year Low

UK Service Sector Growth Near 1-Year Low

09/05/2017 - 08:36:00 (RTTNews)

(RTTNews) - The British service sector expanded at the slowest pace in almost a year in August as subdued client demand and heightened uncertainty about the domestic economic outlook weighed on business activity.

The services Purchasing Managers' Index fell more-than-expected to 53.2 in August from 53.8 in July, survey data from IHS Markit and the Chartered Institute of Procurement & Supply showed Tuesday. The expected reading was 53.5.

The score signaled the slowest pace of growth since September 2016. Nonetheless, the index remained above the 50.0 no-change value for the thirteenth consecutive month.

"A slowdown month as the services sector comes off the boil, challenged by a general unwillingness to spend and invest, alongside fragility in confidence amongst consumers as a result of Brexit," Duncan Brock, Director of Customer Relationships at CIPS, said.

The survey suggests that the economy is struggling to re-accelerate in the third quarter, after a disappointing first half of the year, Paul Hollingsworth, a UK economist at Capital Economics, said.

However, there are still some good reasons to expect growth to pick up a little pace, the economist added.

The survey revealed that new order volumes increased at the second-slowest rate since September 2016. Despite a slowdown in new business growth, data highlighted renewed pressures on operating capacity and backlogs of work grew the most since July 2015.

Service providers responded to rising workloads and pressures on operating capacity by recruiting additional staff in August.

The rate of input price inflation picked up further from May's recent low and was the fastest for six months. The latest rise in service sector charges was the fastest since April.

Data revealed that service providers' business confidence edged up to a three-month high. Companies expecting a rise in business activity over the next 12 months generally cited organic growth, resilient client spending and new product launches.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


ARGENTINA: GDP Estimate Up 2.7% In 2Q17 An Annual Basis (06 min(s), 36 sec(s) ago)
(RTTNews) - The provisional estimate for Argentina's Gross Domestic Product (GDP) in the secon ...Full Story»

BRAZIL: Temer Says He Has 'no Concern' About Criminal Complaints Against Him (01 hr(s), 16 min(s), 36 sec(s) ago)
(RTTNews) - Brazil's President Michel Temer said in an interview with Reuters news agency that ...Full Story»

ARGENTINA: Consumer Confidence Rises 7.2% In September - Survey (01 hr(s), 40 min(s), 36 sec(s) ago)
(RTTNews) - The Consumer Confidence Index in Argentina increased by 7.2% in September compared to ...Full Story»

BRAZIL: Inflation Expectation By Year-end Cut To 3.2% - Central Bank (01 hr(s), 47 min(s), 36 sec(s) ago)
(RTTNews) - The Brazilian central bank's Quarterly Inflation Report presents revised projectio ...Full Story»

BRAZIL: Interest Rate Estimate Cut To 7% Per Year In 2017, 2018 - Central Bank (02 hr(s), 09 min(s), 36 sec(s) ago)
(RTTNews) - The benchmark interest rate in Brazil, known as Selic, is expected to reach 7% by year ...Full Story»

BRAZIL: Central Bank Increases GDP Growth Estimate For 2017 To 0.7% (02 hr(s), 23 min(s), 36 sec(s) ago)
(RTTNews) - Brazil's central bank increased to 0.7% from 0.5% its projection for the country&# ...Full Story»

MEXICO: Earthquake Will Not Affect Country's Rating - Moody's (02 hr(s), 29 min(s), 36 sec(s) ago)
(RTTNews) - Credit risk rating agency Moody's Investors Service said that the earthquake that ...Full Story»

BRAZIL: Preliminary CPI Rises 0.11% In September (02 hr(s), 36 min(s), 36 sec(s) ago)
(RTTNews) - Brazil's official preliminary inflation index rose 0.11% in September on a monthly ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

ARGENTINA: GDP Estimate Up 2.7% In 2Q17 An Annual Basis

09/21/2017 - 22:25 PM (RTTNews)
(RTTNews) - The provisional estimate for Argentina's Gross Domestic Product (GDP) in the secon ...Full Story>>

BRAZIL: Temer Says He Has 'no Concern' About Criminal Complaints Against Him

09/21/2017 - 21:15 PM (RTTNews)
(RTTNews) - Brazil's President Michel Temer said in an interview with Reuters news agency that ...Full Story>>

ARGENTINA: Consumer Confidence Rises 7.2% In September - Survey

09/21/2017 - 20:51 PM (RTTNews)
(RTTNews) - The Consumer Confidence Index in Argentina increased by 7.2% in September compared to ...Full Story>>

BRAZIL: Inflation Expectation By Year-end Cut To 3.2% - Central Bank

09/21/2017 - 20:44 PM (RTTNews)
(RTTNews) - The Brazilian central bank's Quarterly Inflation Report presents revised projectio ...Full Story>>

BRAZIL: Interest Rate Estimate Cut To 7% Per Year In 2017, 2018 - Central Bank

09/21/2017 - 20:22 PM (RTTNews)
(RTTNews) - The benchmark interest rate in Brazil, known as Selic, is expected to reach 7% by year ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.