Service Sector Growth Slips to 11-month Low...
According to the latest Markit/CIPS PMI survey, Service sector growth slips to 11-month low (Source: Markit/CIPS, 5th September 2017)
"Duncan Brock, Director of Customer Relationships at the Chartered Institute of Procurement & Supply, said: “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."
Chris Williamson, Chief Business Economist at IHS Markit, which compiles the survey: “A summer slowdown was evident in the economy as the August PMI surveys showed slower rates of expansion in services and construction offsetting an improved performance in the manufacturing sector. The resulting overall expansion was the weakest for six months.
Key Indicators show:
- Weakest rise in business activity since September 2016
- Input cost pressures pick up in August
- Job creation strengthens to 19-month high
See the full article from Markit/CIPS, 5th August 2017.