The services sector in the UK remains the main driver of economic growth. That’s one of the conclusions from the July survey from Markit/CIPS.
But while growth remains strong, data showed it slowed slightly. Markit’s purchasing managers’ index – the PMI – fell to 57.4 in July from 58.5 in June. Figures above 50 show growth in the sector.
The figures were boosted by the financial services sector which has seen its fastest growth since 2013.
The services sector PMI is the third of the monthly Markit surveys on the UK economy. Tuesday’s construction PMI showed a slowing from 58.1 to 57.1 as growth in housing activity slowed.