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UK services expansion slows, but remains strong
The UK service sector continued to register strong expansion in May, according to the latest PMI® survey data from Markit and CIPS. The rates of growth in both total business activity and new work slowed to the weakest in 2015 so far, but nevertheless remained sharp overall and stronger than the long-run survey averages. Outstanding work continued to rise, despite further strong workforce growth, while firms reported lower business uncertainty following the result of the general election. Meanwhile, cost pressures reached an eight-month high, and firms increased their own charges having discounted in April. The ... (full story)
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