UK Service Sector Contracts For First Time In Over 2-1/2 Years

UK service sector shrunk for the first time in over two-and-a-half years in March as domestic political uncertainty damped demand amid labor shortages, survey data from IHS Markit showed on Wednesday. The services purchasing managers’ index, or PMI fell to 48.9 in March from 51.3 in February. Economists had expected a score of 51. A reading below 50 suggests contraction […]

Read more

UK Construction Activity Growth Accelerates Despite Weak Outlook

UK construction sector expansion unexpectedly accelerated in October, but firms were the least optimistic about prospects in nearly six years, survey data from IHS Markit showed on Friday. The IHS Markit/ Chartered Institute of Procurement & Supply construction Purchasing Managers’ Index, or PMI, rose to 53.2 from 52.1 in September. Economists had expected a score of 52. A PMI reading […]

Read more