At 53.4, the headline seasonally adjusted IHS Markit/CIPS Services PMI Business Activity Index posted above the 50.0 no-change mark for the eleventh successive month in June. However, the index was down from 53.8 in May and signalled the slowest expansion of service sector output since February. The average reading in the second quarter as a whole (54.3) was in line with that recorded during the first three months of 2017.
UK Services PMI fell to 53.4
UK service providers indicated another slowdown in business activity growth during June, which largely reflected the weakest upturn in new work since September 2016. Survey respondents commented on subdued business and consumer confidence, alongside some instances of delayed decision- making around the election. Meanwhile, service sector firms were the least upbeat about their year-ahead growth prospects since July 2016. In contrast, there was a slight pick- up in the pace of job creation to its fastest for 14 months in June.
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